China January Car Sales Surpass US For The First Time Ever

Annualised US car sales slipped below 10m last month – and were less than China’s for the first time – in spite of steep discounts offered by carmakers and government efforts to ease lending.

General Motors’ monthly sales of cars and light trucks fell by 49 per cent last month, Chrysler’s by 55 per cent and Ford Motor’s by 40 per cent, including vehicles made by Volvo, its Swedish premium brand.

“This is the first time in history that China has surpassed the US,” said Michael DiGiovanni, GM’s head of global sales and industry analysis.

GM estimated the overall annualised selling rate for cars at 9.8m in the US in January, compared with 10.3m in December, and less than China’s estimated selling rate of 10.7m last month.

The slide in car sales hit all major manufacturers, but will intensify the pressure on Detroit’s carmakers in particular, which are scrambling to avoid bankruptcy. GM and Chrysler are working on restructuring plans due by February 17, as conditions of their $17.4bn emergency government loans.

Autodata, a market research firm, put total estimated annual industry car sales at 9.6m, their lowest level since 1982.

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_43LE - 2/4/2009 1:01:03 PM

+5 Boost

With a population over 4X that of the US it was bound to happen at some point. Even after recovery I would think that it would remain like this.

DinamoR - 2/4/2009 2:42:02 PM

+1 Boost

China will surpass U.S. on everything very soon. They are investing $300,000,000,000 a year to build a modern 21st century infrastructure that will make the the #1 economic superpower of this century. USA meanwhile has an old crumbling WW2 infrastructure and a bunch of retarded conservatives who think we should give more tax cuts to billionaires than invest in our country so we can compete with China and everyone else in this new century

Agent63 - 2/4/2009 9:11:26 PM

+7 Boost

I'm Chinese and was born in Canada and I see that the future is in Asia. There is no opportunity in Canada or US anymore to make serious money. Any real business person knows that. I have a whole board of folks that can back me on it. Don't deboost me because of my race, I have all the things I have because of Asia. I know some of you are secretly racist :P

E36er - 2/4/2009 5:01:24 PM

+2 Boost

Don't waste your time learning Madarin. The same was said about learning to speak Japanese in the 80's and look at them now, economic stagnation for over a decade and a half. Although China is a Communist country it still relies on capitalism to fuel it's economy. Now that there's a global downturn I wouldn't be so bullish on China's future. Chinese factories are already letting go thousands of workers, mostly in the the rural areas. It won't be long before the Chinese white collar workers start to feel the slow down. China will chug along for several quarters or so before it will be forced to drastically slow down which will make things even worse for the rest of the world, especially for us.

kablaam - 2/4/2009 6:32:28 PM

+4 Boost

Fact is, China is an export driven economy(2/3 of GDP) and if the US, the largest consumer, is slowing and not consuming as much...... 2+2=4

sector - 2/4/2009 9:30:04 PM

+4 Boost

"World Bank has reported that 16 of the 20 most polluted cities in the world are Chinese"

automobiles are the last thing these people need more of. I wouldn't bet on China's exponential growth either as (blood soaked) oil from Africa will eventually run out about the same time fresh water runs out. But one thing's for sure, plenty of slave labor.

woood - 2/5/2009 9:52:37 AM

+2 Boost

China could be the world's largest stagnant economy with tons and tons of used cars, trucks and trash if they don't develop and build a humongous recycling facility. The reality is that only China has the financial capacity to develop a more efficient and easier way of recyling. What an irony.