Chinese sales looking up

Auto sales in China hid the skids in 2004 after the Chinese Government made it harder to get car loans to help stem the racing economy. After the auto industry doubled their sales in 2003, the gains have been much lower, forcing the top two nameplates, Volkswagen and General Motors, to cut prices. It looks like the plan worked. GM has seen sales increase 12.4 percent in the first five months of 2005, while one of VW's ventures posted a 22 percent gain. The market is nowhere near the raging buying storm it was a few years ago, but it is predicted the Chinese market will grow 10 to 15 percent this year.