General Motors still on track to double sales in China by 2015 image

General Motors on Monday said that vehicle sales in China rose 10 percent in October to 220,412 units. The automaker wants to double its sales to 5 million vehicles per year in China by 2015.

The US based automaker sold over 2.1 million vehicles so far this year, up 7 percent from the 1,976,913 vehicles it sold in January-October 2010, the company said Monday.

But despite strong demand in some areas of China – overall demand for new vehicles in China, the world’s largest market has been lacklustre this year.

However, Kevin Wale, president and managing director for GM’s China operation remains optimistic on the growth potential of the Chinese market.

“We still have our plan in place to double our volume by 2015, and we are still working toward that, Wale told Reuters in a telephone interview.

For the first eight months of 2011, GM and its joint ventures sold a record 1,652,693 vehicles in China, which was up 5.4 percent from the same period last year.

Bloomberg reports that Auto sales in China surged 32 percent to 18.06 million vehicles in 2010, helping the country surpass the U.S. as the world’s largest auto market for a second straight year.
GM has 11 joint ventures, two wholly owned foreign enterprises and more than 35,000 employees in China.