SHANGHAI – Pingdan Xu has just purchased his first car, a silver 2004 Buick Excelle midsize model based on a GM Daewoo Auto & Technology Co. design. He thus became one of more than 370,000 Chinese to buy Buicks this year, up 38% from 2003. Although the Chinese market has slowed recently, reflecting the government’s credit clampdown aimed at cooling its super-heated economy, passenger-car sales are forecast to reach a healthy 2.2 million units in 2004. Sales were weak during the ...

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