Looks like General Motors Corp (GM) is on pace to keep its annual sales lead among foreign automakers in China for a ninth straight year, according to Bloomberg.
The automotive company outsold Volkswagen in China during the first half of 2013. “Volkswagen, which unlike GM includes Hong Kong and Macau in its China figures, today reported first-half sales in China rose 19 percent to 1.54 million vehicles. That compares with the 1.57 million deliveries reported by GM,” according to the article.
Both auto companies are truckin’ ahead on investment spending in China, as that country is the largest sales market for GM, VW and Toyota.
Meanwhile, prices of metals used in automotive manufacturing were mixed on this week’s price index.
The week’s biggest mover on the weekly Automotive MMI® was US palladium bar, which saw a 4.5 percent increase. US platinum bar rose 2.2 percent.
Following a steady week, prices for US HDG closed flat.
Following a 3.5 percent increase in the week prior, the cash price of primary copper fell 2.0 percent on the LME last week to $6,780 per metric ton. The copper 3-month price fell 2.0 percent on the LME to $6,785 per metric ton after rising 3.1 percent the week before. With a 0.2 percent decrease, the Chinese lead price closed the week lower. Korean 5052 coil premium over 1050 sheet traded sideways last week.
The Automotive MMI® collects and weights 7 metal price points used in automotive production to provide a unique view into automotive metal trends. For more information on the Automotive MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.