Total sales of General Motors (GM) in China reached a record high in the first quarter of 2009, and about 363,701 vehicles were sold, with a 16.8% growth year over year.
Last month, total GM-branded vehicle sales jumped 24.6% to 137,004, of which 6,054 and 90,784 ones were sold by two of the US carmaker's joint-venture subsidiaries, Shanghai General Motors Co., Ltd. (Shanghai GM) and SAIC-GM-Wuling Automobile Co. Ltd. (SGMW).
So GM announced that it would strive for double sales, namely more than 2 million vehicles, in China, the world's second largest GM-branded vehicle consumption market, in 2013. Presently, the group is brewing a cautious and suitable development strategy, and at least 30 new or upgrade car models will likely be unveiled here in the following five years, said people with the direct knowledge of the matter.
A senior executive for GM yesterday announced that the world-known automaker would still inject the global products and technologies into its China operation in the near future, in spite of the bankruptcy protection application. He believed that GM could ride out such a crisis in the end, with a strong support of the US government.
In particular, nearly all joint-venture subsidiaries of GM in China keep a stable growth now, with abundant working capital, added the top management.
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