GM to Soon Pass 1M Mark in China as Non-U.S. Sales Rise
China Report International 2007-01-08 Bloomberg Detroit
General Motors Corp. may sell more than 1 million vehicles this year in China for the first time as the world's largest automaker relies increasingly on non-U.S. sales for growth. If GM doesn't make the mark in 2007, it will certainly do so within two years, GM China chief Kevin Wale said yesterday in an interview at the Detroit auto show. Sales in China surged 32 percent in 2006 to 876,000 cars and trucks, compared with an 8.8 percent drop in the U.S… Growth outside the U.S., now 55 percent of GM's sales, is generating revenue to help pay for closing plants in North America, Chief Executive Officer Rick Wagoner said last week. Detroit-based GM has posted more than $13 billion in losses over seven quarters, including more than $3 billion in the first nine months of last year… GM's Latin America/Africa and Middle East region is expected to continue to grow this year after passing 1 million units for the first time in 2006, said Maureen Kempston Darkes, head of the region for GM.
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