meanwhile back in china where the real money is...
GM appoints new China president PEO
American car manufacturer General Motors has named Matthew Tsien as the new president of its China operations, succeeding Bob Socia, who is set to retire on 1 January. Tsien is currently vice president of planning and program management for GM China. GM said Tsien will now report directly to CEO Dan Akerson instead of GM China Chairman Tim Lee, a move that reflects the growing importance of China to the automobile manufacturer. China at present accounts for about 30% of the company's global vehicle sales.
American car manufacturer Ford has announced that in November it broke its sales record in China for a third consecutive month. The company said it sold 67,505 wholesale vehicles last month, a 56% increase compared to November 2011. With a record November, Ford China's year-to-date sales are now up 18%. Ford's passenger car JV in China, Changan Ford Automobile Ltd also had a record month. CAF sold 50,423 wholesale cars in November, up 71% compared to November 2011 and up 27% for the year.
Ford Motor Co is getting ready to launch a redesigned Mustang sports car that the US-based auto-giant is hoping will draw in younger buyers in both China and Europe. First produced in 1964, the Mustang was the first affordable sports car or pony car. Ford announced plans to launch its new Mustang on 5 December. According to Ford’s market research, the Mustang name still holds a lot of appeal worldwide including in China, where it can only be purchased through non-traditional means.
