S&P 500
7,226.20
+0.01%
Dow Jones
49,494.60
-0.62%
Nasdaq 100
27,685.40
+0.66%
Russell 2000
2,804.78
-0.02%
FTSE 100
10,364.50
0.00%
Nikkei 225
59,260.50
-0.78%

Cars and Drivers

GM Plans to Boost Exports from China

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

GM logo
Wikimedia Commons
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.

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Featured Reads

Our top personal finance-related articles today. Your wallet will thank you later.

Half of America Still Feels Financially Exposed Despite 8% Jump in Security
David Beren |

Half of America Still Feels Financially Exposed Despite 8% Jump in Security
52% of Americans Are Building Wealth While Ignoring Their Greatest Risk
David Beren |

52% of Americans Are Building Wealth While Ignoring Their Greatest Risk

Continue Reading

Douglas A. McIntyre |

Most Important Business Stories: Microsoft Windows Woes, GM in China

courtesy of SamsungShaky Global Markets Markets across the world continue sharp drops on concerns about regional recessions, slow growth in…
5 Countries Manufacturing More Cars Than America
John Harrington |

5 Countries Manufacturing More Cars Than America

Few experiences are more quintessentially American than jumping into a car, cranking the radio, and driving down an open road.…
6 Most Important Things in Business Today
Douglas A. McIntyre |

6 Most Important Things in Business Today

China's first-quarter GDP grows rapidly, Netflix posts incredibly strong earnings, Tesla to pause Model 3 production, and other important headlines.
Paul Ausick |

GM May Increase China Manufacturing (GM, F)

Shares of US automakers General Motors Co. (NYSE: GM) and Ford Motor Co. (NYSE: F) were hit yesterday on the…
Douglas A. McIntyre |

Car Sales in China No Longer Auto Industry’s Future

ThinkstockWhite-hot car sales in China have slowed considerably and no longer outpace the percentage rise in the United States by…
Outlook for Automakers Turns Negative: Moody’s
Paul Ausick |

Outlook for Automakers Turns Negative: Moody’s

Global demand for new cars and light trucks is softening and analysts at Moody's Investors Service rates the automakers' outlook…
Mexico Tariffs Kick Automakers While They Are Down
Paul Ausick |

Mexico Tariffs Kick Automakers While They Are Down

The U.S. president on Thursday said the nation will impose tariffs on all goods imported from Mexico unless the country…
Ford’s Shares Dragged Down by Stellantis Warning
Douglas A. McIntyre |

Ford’s Shares Dragged Down by Stellantis Warning

Stellantis warned that this year's financial results would be worse than expected. Ford investors worry it will be next to…
Chinese Tariffs Slap US Automakers
Paul Ausick |

Chinese Tariffs Slap US Automakers

China struck back on Wednesday at proposed tariffs on Chinese imports into the United States with new tariffs of its…

Top Gaining Stocks

Cboe Global Markets
CBOE • Vol: 1,568,143
New Pluto Global
PSKY • Vol: 12,285,993
Seagate Technology
STX • Vol: 7,378,346
Oracle
ORCL • Vol: 26,317,675
Datadog
DDOG • Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ • Vol: 4,367,433
Clorox
CLX • Vol: 13,260,523
Stryker
SYK • Vol: 4,519,455
Mohawk Industries
MHK • Vol: 1,859,865
Amgen
AMGN • Vol: 3,818,618