Obama backtracks on comments that private sector is doing "fine"

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17. China’s auto sales grows by 16 percent in May, showing signs of stabilization

BEIJING — China’s auto market revved to life in May despite the weakening economy, with vehicle sales jumping nearly 16 percent from a year earlier to 1.61 million units, industry figures showed Saturday.


But the auto sales data showed no strong improvement in sales of domestic brand vehicles, with most of the gains going to foreign automakers.

General Motors Co. and its joint ventures sold 231,183 vehicles in China in May, up 21 percent from the same month in 2011 and a slight improvement from April.

More than half were minivans sold by its SAIC-GM-Wuling joint venture, which saw sales soar 36 percent to 127,749 vehicles in May.

Ford Motor Co. reported its passenger vehicle sales climbed 23 percent from a year earlier to 34,550 units. Sales of both passenger and commercial Ford-brand vehicles rose 8 percent to 48,608, it reported earlier.

http://www.washingtonpost.com/business/chinas-auto-sales-grew-by-16-percent-in-may-showing-signs-of-stabilization/2012/06/09/gJQAOu7wPV_story.html