GM teams up with partner SAIC to tap China used-car market

Newswire

BEIJING, Oct 28 (Reuters) - General Motors [GM.UL] and its long-time Chinese partner, SAIC Motor Corp , are teaming up again to tap the used car business in the world's largest auto market. GM and its car venture with SAIC each holds a 33 percent stake in Shanghai Chengxin Used Car Operation and Management Co, with SAIC subsidiary, Shanghai Automotive Industry Sales Co, holding the remainder, the Detroit automaker said in a statement on Thursday. Shanghai Chengxin will open shops in ...

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