GM China Quarterly Sales Rise for First Time in 2 Years

General Motors (NYSE:GM) announced today that its Chinese sales rose 12% for the quarter ended in September versus the year-ago period. The gain follows a 5% drop in the second quarter, and marks the first year-over-year gain for sales in China in two years. 

The company said it delivered 771,400 vehicles in China, including its joint-venture partnerships. GM said it sees strong momentum in the vehicle sales market as China’s economy recovers from the COVID-19 pandemic. 

 

GM's cadillac SUV lineup

Cadillac XT4, XT5, and XT6 SUVs. Image source: General Motors.

The company said the strength in sales has been led by its

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Auto Experience, Inc. Proposes To Acquire Auto Finance Firm Consumer Portfolio Services For $135 Million In Cash

DALLAS, Oct. 8, 2020 /PRNewswire/ — Auto Experience, Inc., created in 2018 to pursue strategic business opportunities in the automobile financing market, today announced it has informed the board of directors of Consumer Portfolio Services, Inc. (Nasdaq: CPSS) of its interest in acquiring the company in an all-cash transaction valued at $135 million.  An acquisition at that price would nearly double the current value of the Nasdaq-listed company.

Based in Irvine, Calif., Consumer Portfolio Services (CPS) is an independent specialty finance company that provides indirect automobile financing to consumers.  In an October 7, 2020 letter to the

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