GM inks $900M deal to export vehicles, parts to China

  1. Welcome to GM Inside News Forum – General discussion forum for GM

    Welcome to GM Inside News Forum - a website dedicated to all things GM.

    You are currently viewing our forum as a guest, which gives you limited access to view most discussions and access our other features. By joining our community, at no cost, you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is free, fast and simple, Join GM Inside News Forum today!
     
+ Reply to Thread
Results 1 to 9 of 9

Thread: GM inks $900M deal to export vehicles, parts to China

  1. #1
    News Contributor Hurricane's Avatar
    Join Date
    Sep 2003
    Posts
    3,529
    Thanks
    0
    Thanked 3 Times in 2 Posts

    GM inks $900M deal to export vehicles, parts to China

    GM inks $900M deal to export vehicles, parts to China

    By Mark Kleis Monday, Jan 24th, 2011 @ 05:44 a.m. As a result of recent talks between President Obama and Chinese President Hu, General Motors and its China-based joint venuter, Shanghai General Motors, have signed a two-year agreement to export $900 worth of GM goods to China.

    The deal will see the exportation of $500 million worth of Buick, Cadillac and Chevrolet vehicles, as well as another $400 million worth of vehicle components.

    “GM fully supports a mutually beneficial, open and productive trade environment, which can bring a win-win outcome to all parties involved,” said Kevin Wale, president and managing director of the GM China Group.

    Shanghai GM sold 1,033,307 vehicles in china in 2010, the most of any automaker in the country. Last year’s top sales position marks the sixth consecutive year that GM has led the Chinese market in auto sales volume, with total sales by GM and its joint ventures in China reaching 2,351,610 units, a growth of 28.8 percent.
    Full text here: http://www.leftlanenews.com/gm-inks-...-to-china.html
    2010 Infiniti FX35
    2007 Yukon XL Denali
    2006 Chevrolet Corvette

  2. Remove Advertisements
    GM Inside News
    Advertisements
     

  3. #2
    4.4 Liter Supercharged Northstar rueben44's Avatar
    Join Date
    Oct 2003
    Location
    Houston, TX
    Posts
    2,841
    Thanks
    0
    Thanked 25 Times in 16 Posts

    Re: GM inks $900M deal to export vehicles, parts to China

    Well I'II say! That is not a huge volume but is still a big deal when you look at the parties involved.
    1990 Cadillac Allante
    2012 Kia Rio
    Future car: 2013 Buick Verano 3 Door

  4. #3
    6.2 Liter LS3 V8 richmond2000's Avatar
    Join Date
    Nov 2009
    Posts
    3,713
    Thanks
    180
    Thanked 42 Times in 37 Posts
    My Ride
    2009 Pontiac G8 V6

    Re: GM inks $900M deal to export vehicles, parts to China

    I thought I heard the Chinese are going to increase US importation to calm the strong political pressure to revalue there dollar

  5. #4
    3.0 Liter SIDI V6 2wd-k5's Avatar
    Join Date
    Dec 2010
    Location
    British Columbia, Canada
    Posts
    608
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Re: GM inks $900M deal to export vehicles, parts to China

    soo...is obama using an american govt owned company to pay off its national debt? kind of like the way a crackhead pays off his debts to his dealer? only diference is americans are adicted to spending cash

  6. #5
    3.0 Liter SIDI V6
    Join Date
    Oct 2010
    Posts
    533
    Thanks
    0
    Thanked 20 Times in 11 Posts

    Re: GM inks $900M deal to export vehicles, parts to China

    2 year agreement. $900 million dollars. That would be $450 million per year.

    Just how pathetic is that?

    In 2010, the U.S. ran an auto parts trade deficit with China $8,539 million. The 2009 auto parts trade deficit was $6,496 million. So if we reduce the 2010 deficit by $450 million, we still are running an $8 billion deficit, and are still higher than the 2009 deficit. And is there any reason to believe the 2011 deficit will not otherwise increase by the $2.1 billion that the 2010 increased?

    Americans are absolute idiots.

    source: http://trade.gov/wcm/groups/internet..._china_pdf.pdf

  7. #6
    4.4 Liter Supercharged Northstar GM-Joe's Avatar
    Join Date
    Jul 2006
    Location
    Columbus, Ohio
    Posts
    2,628
    Thanks
    58
    Thanked 23 Times in 17 Posts
    My Ride
    2007 Pontiac Grand Prix base

    Re: GM inks $900M deal to export vehicles, parts to China

    10,000 40k Buick Enclaves
    Current:
    2007 Pontiac Grand Prix (91k+ mi.)
    Sold to Dad:
    1997 Saab 900 2.0 Turbo(150k+ mi.) for $1000 and agreed to help replace the transmission and clutch, now 190k+ mi.
    Retired:
    1987 Chevrolet Silverado 10 (retired 11/12/2007; 219,986 mi.)
    Dead:
    1983 Datsun 280 ZX by Nissan (146,857 mi.)
    1986 Lincoln Mercury Lynx (64K mi.)
    1979 Chrysler Cordoba w/ Corinthian Leather seats (130K mi.)
    1976 Dodge Charger (130K mi.)

  8. #7
    3.6 Liter SIDI V6 johnnyl321's Avatar
    Join Date
    Jun 2004
    Location
    Ceciltucky, MD
    Posts
    1,058
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Re: GM inks $900M deal to export vehicles, parts to China

    so if the average car price is $25,000 that means China is agreeing to buy 20,000 American built GM vehicles. But, the United States of America has been buying much, much more than that in parts and vehicles.

    Being a car salesman, I can appreciate the fact that splitting the difference doesn't always mean 50/50.....but this scenario is like 99/1...and it isn't the United States that's getting the lion's share.

  9. #8
    4.4 Liter Supercharged Northstar rsbaker's Avatar
    Join Date
    Jan 2003
    Posts
    2,612
    Thanks
    0
    Thanked 22 Times in 15 Posts

    Re: GM inks $900M deal to export vehicles, parts to China

    $900,000,000 is not really that much. if you divide $900M by $30,000.00 cost of a vehicle you get 30,000 vehicles or equivalent car parts. That's less if you divide by the cost of high end vehicles likeCadillac CTS, Buick Enclave or Chevrolet Volt. Don't get me wrong, I'm glad GM is getting something but given the size of China's market it's not that much.

  10. #9
    5.3 Liter Vortec V8 TORRED1's Avatar
    Join Date
    May 2006
    Location
    CITY OF CHAMPIONS
    Posts
    1,472
    Thanks
    134
    Thanked 44 Times in 34 Posts
    My Ride
    2004 GTO, 2013 VOLT

    Re: GM inks $900M deal to export vehicles, parts to China

    Peanuts, it's supposed to make you feel good, ..................do you???
    Goldman Sachs , AIG , Wells Fargo, Berkshire Hathaway , UAW, & SEIU.......Todays organized crime mobs

  11. Remove Advertisements
    GM Inside News
    Advertisements
     

Quick Reply Quick Reply

Register Now

Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.


Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Posting Permissions

  • You may not post new threads
  • You may post replies
  • You may not post attachments
  • You may not edit your posts
Powered by vBadvanced CMPS v4.1.2