Output at General Motors’ main car making venture in China will jump more than 35% to over 150,000 cars in 2003, the venture’s president, Chen Hong, said on Friday, according to Reuters.
The Shanghai GM venture with Shanghai Automotive Industry Corp (SAIC), posted sales — which tend to be very close to output in the world’s fastest growing car market — of 110,763 in 2002, Reuters said.
“Our aim this year is to produce more than 150,000 units,” Chen said. He did not elaborate, Reuters noted.
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According to Reuters, car sales growth is expected to slow this year from 2002’s surprisingly strong 56%, but analysts say the market will still grow steadily because of the rising incomes of Chinese families after years of robust economic growth.
