GM sells over 1 million cars in China

Posted on Thursday, 9 August 2007 , 10:08:58 byEmil

Filed under gmchinafritzhendersoncarmarketGM

GM sells over 1 million cars in China

The strong demand for new cars in China will push GM to sell more than a million cars for the first time this year. GM exec Fritz Henderson has told AFP press that its market share is in fact on the decline, despite the fact the sales are up by 21% on last year’s numbers.
For GM the situation’s repeating itself back home. Yesterday, GM had to lower its US sales projections for the year and admits reaching its earlier target sales of three million cars will be ‘challenging.’
After the US, with profits expected to add $230 million to the carmaker’s coffers, China is at the moment GM’s second most important market. Asia will increase even more the opportunities for the General. Henderson said there’s still significant gain expected from Korea and expanding operations in countries like Thailand, Taiwan, India and Malaysia. GM will probably sell more vehicles and make more money from Asia than the U.S. within 10 years.