CHINA: GM sees 10-15% 2011 growth
New-for-2010 Chevy Sail targets low end, high volume sector especially in smaller cities
General Motors expects 10 to 15% growth in China next year where it is targeting smaller cities and considering building another assembly plant to supplement output from joint ventures with FAW and SAIC.
Local president and managing director Kevin Wale told Reuters the automaker was expected to meets its target of selling over 2m vehicles this year.
"The market is still quite solid. As you know this year is going to be a strong year. We will see continued growth next year, but growing at a range between 10 to 15%," he said. "Our strategy always is trying to grow at least with the market. If we can do a little better, that's good."
"When you're selling about 2m units a year, a 10 or 15 percent growth is a new assembly plant."
GM expects to sell over 3m vehicles annually in 2015 in China, which passed the United States as its largest market in the first half of this year.
GM launched its new Chevrolet Sail last January, targeting smaller cities which observers say will replace affluent cities in the east coast as the major growth driver in the next few years and Wale said 60,000 sales to date were encouraging.
"We think we understand the trend. We think we are well placed and have been busy expanding in these tier 3 and tier 4 cities."