News Summary: GM opens plant for China budget cars
Posted at: 11/19/2012 1:05 PM
By The Associated Press
DISCOUNT DRIVERS: General Motors Co. and its Chinese partners launched a second plant to make cars for discount brand Baojun, ratcheting up the battle for customers at the fast-growing lower end of the world’s biggest auto market.
NOT-SO-SHOCKING STICKER: The first car to roll off the plant’s production line was a Baojun 630 midsize sedan. It sells for about 63,000 yuan ($10,100).
CHEAP WHEELS: In September, Nissan unveiled a second model of its low-priced Chinese brand Venucia, a compact hatchback that will sell for as little as 67,800 yuan ($10,760). Honda has also launched a budget brand.
(Copyright 2012 by The Associated Press. All Rights Reserved.)