Why is the U.S. Auto Industry Hurting? China’s Doing Great

In contrast to what’s happening here in the U.S., Chinese automakers are having a great year:

Chinese car sales totaled 712,200 (excluding imports) in the first two months of the year, up 33 percent over the same period in 2006, sources with the China Association of Automobile Manufacturers said on Monday.
[…]
The leading 10 carmakers in terms of sales for the Jan.-Feb. period were Shanghai GM, Shanghai VW, FAW VW, Chery, Beijing Hundai, Geely, Guangzhou Honda, Tianjin FAW, Dongfeng Peugeot Citroen and Dongfeng Nissan.

Shanghai GM? Hmm. If you can’t beat ’em, join ’em?

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