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Vehicle sales decelerate as government cuts subsidies (4)

(China Daily)

14:40, November 08, 2011

"From a long-term perspective, it's hard for domestic automobile producers to catch up with foreign rivals in terms of technologies and products."

General Motors Co said on Monday that it set an October sales record in China of 220,412 units, up 10.4 percent year-on-year.

South Korea's Hyundai Motor Co also reported high monthly sales in October, the second time it breached the 100,000-unit barrier.

The year-on-year sales growth of 13 percent reinforced China's top position in Hyundai's global market.

Another US-based auto producer, Ford Motor Co, said sales in October were little changed from a year earlier.

However, sales for the first 10 months in China jumped 9 percent to 426,814 units this year.

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