GM's Chinese JVs report record monthly sales

The two Chinese joint ventures of bankrupt automobile giant General Motors have reported record monthly sales in May, driven by the brisk demand for minivans and the recovering economy.

Shanghai GM, GM's joint venture with Chinese carmaker SAIC Motor, said vehicle sales jumped more than 50 percent from a year earlier to 56,011 units in May, buoyed by the hot selling Buick brands.

GM's minivan venture, a tie-up with SAIC Motor and Liuzhou Wuling Automobile, sold 100,258 units last month, the first time that a Chinese automaker has crossed the 100,000 monthly sales mark.