The Rising Influence of Rising Affluence

[DewDiligence]

GM logs record sales month in China:

http://www.wsj.com/articles/gm-posts-china-sales-record-in-november-1449238395

General Motors Co. set a November sales record in China, the latest indication that the worst of a slump that hit the world’s largest car market may be over thanks to new purchase incentives and model updates.

The No. 1 U.S. auto maker said it sold 346,000 vehicles in China last month, a 14% increase compared with the same period a year ago on strong demand for its Buick, Cadillac and local Baojun car brands.

A new round of government tax breaks for car purchases and increased demand for sport-utility vehicles, a sweet spot for American auto makers, fueled GM’s performance and likely lifted the auto industry during the month.

GM sells more cars in China than in any other country…