GM China: 2009 Sales Volume To Grow More Than 20%

[Coventina]

Source: Wall Street Journal

GUANGZHOU (Dow Jones)--General Motors Corp. (GM) expects its sales volume growth in China to exceed 20% this year, sharply higher from 2008, GM China President Kevin Wale said Wednesday.

"We've grown 38% in the first half of the year, so we would be expecting to do in excess of 20% (this year,)" Wale told Dow Jones Newswires in an interview. "Anything less than that we would be going backwards."

The upbeat forecast comes as the auto maker is set to emerge from bankruptcy in the U.S., underlining the importance of the Chinese auto market to the U.S. car maker.

Last week, GM reported its sales in China surged 38% in the first half to a record 814,442 units. In 2008, its sales in China grew 6.1% to 1.1 million units.



Read more: http://online.wsj.com/article/BT-CO-20090708-706412.html

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*sigh*

[David__77]

1. Good news.

China's economy is growing rapidly, unlike most of the world. It makes sense that domestic transportation needs would grow. China heavily taxes private car ownership.