GM Sees China Sales Growth Exceeding 15 Percent
nytimes.com
By REUTERS
Published: November 15, 2006
Filed at 10:59 p.m. ET
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BEIJING ( Reuters) - General Motors Corp. (GM.N) expects sales in China to grow by more than 15 percent in 2007 following a roughly 30 percent rise this year, executives said on Thursday.
Kevin Wale, president and managing director of GM China, said he expected the overall Chinese auto market to grow by 10 to 15 percent next year and added that ``we will grow faster than the market.''
GM, which makes Buick, Chevrolet and Cadillac brands in China, sold 665,390 vehicles here in 2005, up 35 percent from the year before.
Sales this year are expected to total roughly 860,000, Joseph Liu, GM China's vice president, told reporters in Shanghai. That would be an increase of about 30 percent over the previous year, in line the company's earlier forecast.
He said 410,000 of those sales were expected to come from Shanghai GM -- a tie-up with SAIC Motor, China's biggest car maker -- with the remaining 450,000 vehicles to be sold by GM-SAIC-Wuling, a commercial vehicle venture. |
