GM Seeks to Double China Sales in Five Years

In the midst of all the negative reports on GM's financial situation emerges a bright spot: GM executives in China are expecting to double sales to 2 million units within five years in what is now emerging as the world's largest auto market.

"We are very confident that we can double our sales in five years, as we have got very good plans to introduce new products and production capacity," said Sophia Luan, GM China's Shanghai-based spokesman.

Last month, the China's car sales reached a record high of 1.08 million units, and GM increased its total sales by 24.6 percent, to 137,004 units, compared to a year ago.  Despite the economic collapse in the second half of 2008, GM still sold 1.09 million vehicles there, up 6.1 percent from 2007.

GM will introduce more than 30 new models to the Chinese market in the next five years, including at least five Buicks and five Chevrolets.

Source: AFP via Google