7-10 % growth for China auto market, according to General Motors image

Daniel Akerson, General Motors Co ‘s chief executive, stated recently that the company forecasts a 7-10% increase of Chinese car market.

“In 2009 it grew 50 percent, 2010 it grew roughly 30 percent, that’s not all good either. You can’t have totally unbridled growth in a country evolving as quickly as China. Our guess is it will probably be closer to 7 to 10 percent growth in the market and I think that’s very healthy ” stated Daniel Akerson.

In September, General Motors sold with 15.4% more vehicles (240,244 units) in China compared to same month last year.

In 2010, China registered 18 million vehicles sold. Nowadays, despite the fact that the number of vehicles sold in September in China registered a rise of 5.5 percent versus previous year figures, the overall trend is far away from the high expectations created by the results from previous years. One of the causes that determined the slowdown is believed to be the fact that the government stopped tax incentives and subsidies for small vehicles and van buyers.

With brands like Chevrolet and Cadillac, as well as Baojun, Buick, GMC, Holden, Isuzu, Jiefang, Opel, Vauxhall and Wuling, General Motors Co. and its partners produce vehicles in more than 30 countries around the world. In China, GM’s partners are the automakers SAIC Motor Corp and FAW Group.