GM China’s CEO, Kevin Wale, predicts that, despite sluggish new car sales across the globe, the Chinese market will actually grow 5 to 10 percent this year for the Detroit automaker. GM has invested heavily in its Asian operations and it is banking on growth in certain emerging markets to help it recover from its current economic hardships.
China overtook the United States as the world’s largest car market and it has seen a roughly 10 percent year-on-year sales growth this year, which compares quite favorably to the negative growth seen across most of the world.
GM’s Asia-Pacific CEO, Nick Reilly, said that the automaker is seeing signs of growth in some Asia Pacific countries.
“I think it’s bottomed out in Australia and maybe India,” Reilly told Reuters at the Shanghai Motor Show last weekend.
The automaker is seeing an increase in demand in South Korea, though Japanese sales have remained weak.
Buick to stay American
GM reaffirmed that it is not seeking to divest itself of its Buick nameplate, which has persevered as one of the strongest and most prestigious in China. There had been some rumors that, in a bid to raise cash, the automaker would sell the Buick brand to its Chinese partner, SAIC Motor Corporation.
04/20, 1:14 PM
posted by:
carstuff
This is good news for everyone.
04/20, 2:11 PM
posted by:
Dangerous1
Well, some good news at last!
If the Big Three can’t make money in their home market at least they can make it somewhere else.
04/20, 2:59 PM
posted by:
carstuff
Strange, Japan autos make also make little money in Japan yet make it all in the US?
04/20, 9:21 PM
posted by:
floor_it
Why don’t they sell the model in the picture here in the States? Several of the Chinese Buicks look far more interesting than the ho-hum models sold here. They use global & U.S. architecture, so…
carstuff – car ownership is actually declining in Japan. if you ever travel there, you’ll see why – their mass transit is so good and space is at such a premium that it just doesn’t make economic sense to own a vehicle. Unless you live in the boonies…
04/20, 11:46 PM
posted by:
carstuff
not only that but they have lost interest in owning a car, more interested in electronic gadgets. Also population is aging and falling.
Also that is the Chinese Regal which is the Opel Insignia which has been the point of discussion here as to how it will come to the states.
Notice how few are commenting here? Good news for GM does not make a good talking point here.