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GM says it will expand in China despite U.S. woes

Posted Monday, Apr 20, 2009, 11:38 am in Employee News

Dealing with the crisis at General Motors Corp. kept new CEO Fritz Henderson from traveling to Shanghai’s auto show, but executives say the company intends to continue growing in China regardless of how its financial mess is resolved, the Associated Press reported.

While it scales back elsewhere, Detroit-based GM is aiming to double sales in China to about 2 million within the next five years, whether it ends up in bankruptcy protection or not, Kevin Wale, president and managing director of the GM China Group, told the AP.

Success in China, the world’s second biggest auto market after the United States and perhaps soon to be the leading market, is crucial for GM’s future, the news service reported. In China, where total vehicle sales hit a monthly high of 1.1 million in March, GM expects to grow 5 percent to 10 percent this year, the story said. (Associated Press/Detroit News)
 
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