From the Chicago Tribune (link):
In the storm of losses and layoffs at General Motors Corp. in the U.S., a different recent announcement drew little notice: For the first time, GM has overtaken Volkswagen as the No. 1 automaker in China.
While U.S. carmakers roll out behemoth SUVs that are out of step with gas-conscious Americans, GM in China is microtailoring cars to Chinese tastes in details as fine as horns, dashboard clocks and tea cup holders.
With 13,000 employees and at least $2 billion invested in China, GM is betting big on a nation of 1.3 billion consumers where barely 14 people out of 1,000 have ever owned a car. And with good reason: China has vaulted ahead of Japan to become the world’s second-largest market, and is on track to overtake the U.S. by 2020.
Technorati Tags: china economy
