General Motors, the world's top car maker, posted a near-70 percent leap in first-quarter vehicle sales in China, revving past a market that grew about 45 percent in the same period, the company said.
General Motors Corp sold 122,097 vehicles in the first three months of 2004 from several ventures across the country, an increase of 69.9 percent, it said in a statement posted on its Web site (www.gmchina.com), seen by Reuters on Monday.
That should help the Detroit-based auto maker grab market share from rivals, especially Germany's Volkswagen AG -- the country's pre-eminent car maker with a commanding 33 percent of sales at the end of 2003.
Volkswagen posted a rise in China sales of just 5.5 percent in the January-March period to 170,900 vehicles.
"We achieved this strong growth in a rapidly growing but extremely competitive marketplace," said GM's China spokeswoman, Daphne Zheng.
"We plan to keep up our momentum by continuously expanding our capacity, product lineup and local partnerships."
The U.S. firm embarked on an ambitious expansion this year, working with partner Shanghai Automotive Industry Corp to revive a loss-making venture in the northeast and taking over an engine factory owned formerly by defunct South Korean firm Daewoo.
GM is expected to see sales rise almost 40 percent at its venture with Shanghai Auto in 2004 to 280,000 units, from 210,188 the previous year, the Chinese partner has said.
GM more than tripled its earnings in China in 2003 to $437 million as it ramped up production to meet surging demand in the world's fastest-growing major car market.
Last year, GM said it would raise capacity by 50 percent in China to 766,000 units, adding production lines in Shanghai and at another venture in the southern region of Guangxi.
Such capacity building around the country has sparked worries of oversupply and a margin-eroding price war in future, one reason why Beijing is trying to apply the brakes on reckless capital investment in booming sectors.
The commerce ministry last week said car demand this year was likely to ease, fueling price cuts and swelling inventories. Car sales in China, which doubled to around two million units in 2003, are expected to grow just 30-40 percent this year.
A total of 567,000 cars were sold in the country in the first quarter, up 44.5 percent, according to industry figures.
General Motors Corp sold 122,097 vehicles in the first three months of 2004 from several ventures across the country, an increase of 69.9 percent, it said in a statement posted on its Web site (www.gmchina.com), seen by Reuters on Monday.
That should help the Detroit-based auto maker grab market share from rivals, especially Germany's Volkswagen AG -- the country's pre-eminent car maker with a commanding 33 percent of sales at the end of 2003.
Volkswagen posted a rise in China sales of just 5.5 percent in the January-March period to 170,900 vehicles.
"We achieved this strong growth in a rapidly growing but extremely competitive marketplace," said GM's China spokeswoman, Daphne Zheng.
"We plan to keep up our momentum by continuously expanding our capacity, product lineup and local partnerships."
The U.S. firm embarked on an ambitious expansion this year, working with partner Shanghai Automotive Industry Corp to revive a loss-making venture in the northeast and taking over an engine factory owned formerly by defunct South Korean firm Daewoo.
GM is expected to see sales rise almost 40 percent at its venture with Shanghai Auto in 2004 to 280,000 units, from 210,188 the previous year, the Chinese partner has said.
GM more than tripled its earnings in China in 2003 to $437 million as it ramped up production to meet surging demand in the world's fastest-growing major car market.
Last year, GM said it would raise capacity by 50 percent in China to 766,000 units, adding production lines in Shanghai and at another venture in the southern region of Guangxi.
Such capacity building around the country has sparked worries of oversupply and a margin-eroding price war in future, one reason why Beijing is trying to apply the brakes on reckless capital investment in booming sectors.
The commerce ministry last week said car demand this year was likely to ease, fueling price cuts and swelling inventories. Car sales in China, which doubled to around two million units in 2003, are expected to grow just 30-40 percent this year.
A total of 567,000 cars were sold in the country in the first quarter, up 44.5 percent, according to industry figures.
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