GM's China chief predicts
the auto market will grow 10-to-15% annually for the foreseeable
future in China.
Industry concerns about an overcrowded Chinese automobile
market are "overblown," General Motors Corp.'s top executive
in China said Friday, and he predicted the country's auto market
will grow 10-to-15 percent annually for the foreseeable future.
China is the largest overseas market for GM (Research),
the world's largest automaker, and earnings from the country have
helped ease the blow from growing U.S. health-care costs and losses
in European automotive operations.
Massive investments being pledged by global automakers
to boost production capacity in China, and slower growth in the
country's auto market, have sparked some concern about overcapacity.
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