This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive
compensation for actions taken through them.
General Motors Co. (NYSE: GM) will use its huge position in China’s car manufacturing industry to press into emerging markets. GM is the largest U.S. car company in the People’s Republic, as measured by market share.
According to Reuters:
General Motors Co, the biggest foreign automaker be sales in China, aims to boost its exports from the country by nearly 70 percent this year because of strong demand for its Chinese-developed low-cost cars, a local executive said.
The U.S. automaker plans to export as many as 130,000 China-made vehicles this year, up from 77,000 vehicles in 2012, driven by demand for its Chevrolet Sail in other emerging markets.
“While GM’s primary philosophy is to manufacture where it sells, we find that product exports are necessary to meet global market demands when GM does not have local manufacturing capabilities for a particular vehicle,” Bob Socia, the head of GM in China, told Reuters in an email.
The Average American Is Losing Their Savings Every Day (Sponsor)
If you’re like many Americans and keep your money ‘safe’ in a checking or savings account, think again. The average yield on a savings account is a paltry .4% today, and inflation is much higher. Checking accounts are even worse.
Every day you don’t move to a high-yield savings account that beats inflation, you lose more and more value.
But there is good news. To win qualified customers, some accounts are paying 9-10x this national average. That’s an incredible way to keep your money safe, and get paid at the same time. Our top pick for high yield savings accounts includes other one time cash bonuses, and is FDIC insured.
Click here to see how much more you could be earning on your savings today. It takes just a few minutes and your money could be working for you.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.