General Motors Corp (GM), the largest automaker in the United States, Thursday announced that it has no plan to halt production in its joint ventures (JVs) in China, Reuters reported, citing the company's spokesperson.
Last week, GM Daewoo, the South Korean unit of GM, decided to suspend its car production for at most 45 days owing to the downturn of overseas demand.
Up till now, GM has set up two joint ventures in China together with SAIC Motor Corp Ltd<600104>, namely, Shanghai General Motors Co Ltd and SAIC GM Wuling Automobile Co Ltd (SGMW), with a market share of about 12%.
In the first nine months of this year, the two JVs sold a total of 772.783 units in Chinese mainland, Hong Kong and Macau, up 13.1% from 683,012 units a year earlier, China Knowledge reported earlier.
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