Even if the Chinese auto market begins to slow, GM said it plans to further expand in the country.
GM, which is the biggest foreign automaker in China, opened two plants in this country in 2012, began the construction of the fourth one in Wuhan and announced plans for the third facility in Chongqing. The US automaker announced that deliveries in China have reached 2.84 million units, an increase of 11%, while rival VW reported 2.81 million vehicles sold, an increase of 24.5%.
“You need to stay ahead of the curve,” Bob Socia, president of GM China, told reporters yesterday at the North American International Auto Show in Detroit. “Are we ready to announce another plant? No, but clearly we’re looking at what we’re going to need to handle our expansion.”
Social added that auto market in China is expected to increase to 21 million in 2013 from 19.4 million last year and GM will be ready to gain share. In 2012 GM exported from China 77,000 vehicles, with 3,000 units more compared with 2009. The automaker predicts exports will increase with 100,000 vehicles by the end of this year. GM also plans to increase sales in China to 5 million units by 2015 and also expand its SUV lineup and luxury Cadillac brand.