GM Takes on VW, Expects Double Sales in China
In essence, General Motors' predictions are relying on the company's short term plan for China as it intends to launch up to 30 new or upgraded models in the next five years. Sophia Luan, the automaker's spokeswoman in China, confirmed this plan but no other officials could be contacted for comments.
Although General Motors is now fighting for survival in the United States, Chinese sales are going pretty well, with March deliveries increased by 24.6 percent compared to the same month of the year before. Furthermore, GM's sales in the first three months grew 16.8 percent to 363,701 units, according to figures provided by Shanghai Securities News.
Overall, passenger car sales in China rose 10.26 percent in March compared to a year earlier, Autonews informed quoting official data from the China Association of Automobile Manufacturers. A total of 772,400 cars were sold in March, an increase by 27.7 percent from February when Chinese purchased 607,300 passenger cars.
In the United States, General Motors is now facing a 60-day deadline to revise the restructuring plan it has sent to the American government on February 17. Nevertheless, the company is still considering all possible options, with new CEO Fritz Henderson admitting that filling for Chapter 11 may become the only hope to stay in business.