DETROIT -- General Motors on Thursday said its share of profits from its joint ventures in China, the world's fastest-growing auto market, rose 19 percent to $148 million in the second quarter.
GM's earnings in China were up from $124 million in the second quarter last year, the company said in a U.S. securities filing. The profit narrowed from $162 million in the first quarter, however.
In its filing, the world's largest automaker also said its share of losses in Korean automaker GM Daewoo fell to $8 million in the second quarter, from $16 million in the year-ago quarter.
In June, GM announced plans to increase investment in its Chinese joint ventures by $3 billion over the next three years.
Its market share in China rose to 9 percent in the second quarter from 7 percent in the year-ago period and sales were up by about 200,000 vehicles.