GM seeks 50% rise in sales to 3m autos

08:19, May 31, 2010      

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General Motors Corp targets to increase sales by 50 percent to 3 million vehicles in China by 2015 despite a recent slowdown in the industry.

GM, which makes vehicles with Shanghai Automotive Industry Corp in China, sold 1 million units in the country in the first five months, half of its 2 million sales target this year, according to Kevin Wale, president and managing director of GM China.

Growth in the industry has slowed since March after vehicle sales peaked in the fourth quarter of last year. Market demand also became flat after the central government reduced incentives for car buyers.

But Wale said that despite fluctuations in the market, GM is still confident of achieving its original sales goal this year.

China is now the biggest market for GM worldwide in the first three months, and it also plays crucial role in the US car maker's global restructuring after emerging from bankruptcy.

For the first quarter of this year, GM recorded a pretax profit of US$1.7 billion globally, with a quarter contributed by GM's Chinese joint ventures, Wale said.


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(Editor:黄蓓蓓)

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