GM looking to double sales in China by 2013?

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Filed under: China, GM, Earnings/Financials

General Motors sold 1.09 million vehicles in China in 2008, and the automaker wants to nearly double that figure to two million by 2013. A GM spokeswoman in China said they'll do that by introducing thirty -- that's right, 30 - "new or upgraded models" over the next five years. The company's March sales were up in China, along with everyone else's, thanks to China's new car buying incentive. With Q1 sales at 363,701 units, that would put GM on course for nearly 1.5 million cars sold in 2009.

In the short term, the sales targets rely on the global economy not getting any worse, and the Chinese government artificially propping up sales. Over the long term, GM must be hoping that by the time the economy turns around it will still be a strong enough to take advantage of its dominant position, its eight Chinese joint ventures and China-specific development, and the allure of those 30 new and revised models. If it can't, then Volkswagen looks to be the wolf in the shadows, having also pledged to double its sales to two million units by 2018.

[Source: Reuters]

GM looking to double sales in China by 2013? originally appeared on Autoblog on Mon, 13 Apr 2009 16:29:00 EST. Please see our terms for use of feeds.

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