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GM keeps the costs down
Last Updated(Beijing Time):2007-12-03 14:24
The world's largest car maker, General Motors Corp, plans to boost spending on Chinese-made parts by 25 percent a year until 2010 because of lower production costs and China's rising vehicle sales.

The company ships about 20 million parts a month from China, including electronics, wheels and sun visors, Bo Andersson, GM's purchasing chief, told reporters in Beijing last Friday.

GM, Volkswagen AG and other auto makers are taking advantage of lower wages in China to cut costs, and China's exports of auto parts could rise as much as 40 percent next year, according to the country's commerce ministry.

GM's sales in China to September rose 17 percent to 753,686 and may reach one million by the end of the year, spokesman John McDonald said last week.

Volkswagen, which sells more cars in China than any other foreign maker, expects to buy more than US$1 billion of parts from the country a year, three times as much as in 2005.
Source:Shanghai Daily 
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