GM president: China economy better than you think - Yahoo Finance: "The overall Chinese economy may be slowing, but its consumers are in good shape, as evidenced by last year's strong sales for General Motors (NYSE: GM) in the country, GM President Daniel Ammann said Monday.
"Last year, 2015, we posted another year of record sales in China. Our sales [there] last year were up just over 5 percent ... 3.7 million vehicles," he told CNBC's " Squawk Box " on the sidelines of the Detroit Auto Show.
Ammann said last year's sales performance underscores that the "real economy" remains in decent shape: "Growth is slower than it had been in the past, but it's still the world's largest market for us. It's still growing."
"The underlying demand seems to be there. Any time you've had an economy as big as China growing as fast as it's been growing, some imbalances will build up in places," he said. "[But] we're getting back to a more maturing kind of growth rate there."
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GM and its Chinese joint venture partners sold 445,227 vehicles December, a 14 percent rise from a year earlier, matching its growth rate for November."
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