A top General Motors Asia Pacific executive thinks the auto market slow-down is now bottoming out in some countries in the region, he said at the Shanghai motor show.
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“I think it’s bottomed out in Australia and maybe India,” GM Asia Pacific president Nick Reilly told Reuters.
Demand was starting to come back a bit in South Korea but Japanese demand was still weak and “probably will stay that way.”
Reilly also said GM would like to increase its stake in minivan joint venture SAIC-GM-Wuling from the 34% it currently holds.
“If there’s an opportunity to increase it a bit, we probably would,” he said.
Reilly said GM would keep the Buick brand and had no intention of selling its to Chinese partner SAIC Motor.
