GM has ambitious goals in China

SHANGHAI - General Motors expects to double its sales in China to 60,000 this year and expand its vehicle financing service in the world's most populous country, Chairman Jack Smith said.

GM builds four mid-sized sedans, a wagon and a compact car in a joint-venture plant in Shanghai and builds sport-utilities in another joint venture in Shenyang.

Smith, speaking at the Asia Pacific Economic Cooperation CEO Summit here Friday, Oct. 19, said in a Bloomberg News Service report that China has the potential to become the world's largest vehicle market.

GM recently opened an office for its GMAC finance unit, and Smith said China's entry into the World Trade Organization would ease the way for GMAC to finance vehicles in China.

0

Shares

ATTENTION COMMENTERS: Over the last few months, Automotive News has monitored a significant increase in the number of personal attacks and abusive comments on our site. We encourage our readers to voice their opinions and argue their points. We expect disagreement. We do not expect our readers to turn on each other. We will be aggressively deleting all comments that personally attack another poster, or an article author, even if the comment is otherwise a well-argued observation. If we see repeated behavior, we will ban the commenter. Please help us maintain a civil level of discourse.

Newsletters