News Summary: GM opens plant for China budget cars
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Source: Business News
Originally published: Nov 19, 2012 - 10:38 am
Originally published: Nov 19, 2012 - 10:38 am
(AP) - 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 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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