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Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era

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To: Freedom Fighter who wrote (1007)	11/18/1998 10:56:00 PM
From: porcupine --''''>	Read Replies (1) of 1722

GM sees 10% market share in Asia -- Reuters RAYONG, Thailand, Nov 18 (Reuters) - General Motors Corp said on Wednesday it expects turmoil-hit Asian and Pacific economies to start recovering in one to two years. GM chief executive John Smith said in a statement his firm also aimed to secure a 10 percent share of the Asian and Pacific auto market by 2010 against about 4.5 percent now. "I am confident that the right measures are being put in place to reverse the current negative trend and promote growth and investment around the region," he said. Smith toured GM's $500 million auto plant under construction in eastern Rayong province. Its Thai assembly lines are due to start production in the third quarter of 1999 with an initial annual output of 40,000 cars. On Monday, president of General Motors Thailand Ron Frizzell, said the firm would begin passenger car production under the Opel brand in Thailand in the first half of 2000. About 70 percent of the Thai built cars would be exported to other countries in the region, Smith said. He added that the battered Thai auto industry would resume fast growth in 10 years when total auto sales in Asia and the Pacific are projected to exceed the combined size of the European and U.S. auto markets. The Thai recession has depressed the country's annual car sales by about 70 percent this year.

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