China is the world’s second largest auto market so anychange, good or bad, will have a big impact on auto maker profits. That is especially true for GM because of its strongBuick sales in China.
Passenger car sales fell 15% in November inChina.
That’s a big turnaround from the 20%-plus sales growth that China had been enjoying for years.
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Basically China makes crap. Unfortunately for China, the USA which is the biggest crap buying country of all, is in a recession and moving into a depression in 2009-2010. I don’t see any good news for China here. There is also a
very good chance the USA will default on it’s debt in 2009. China will have a very difficult time feeding their population. Buyin stocks at this time is irresponsible financial thinking.