General Motors plans to raise the number of dealerships in Indonesia and Thailand in order to profit from rising incomes in the two Southeast Asian countries.
Indonesia and Thailand have a combined population the size of the United States. Martin Apfel, GM’s Southeast Asia head, said the U.S. automaker will increase the number of dealers in Thailand to 120 by the end of next year from 91 currently while in Indonesia, GM will add 20 new dealers to the existing 35.
Apfel said GM is also eyeing Myanmar, a country which holds “great prospect and opportunity” as it opens to foreign investment. General Motors is one of the foreign automakers which want to expand in Southeast Asia as people’s incomes in the region rise with economic growth. “It’s a region full of opportunity. We’re very appreciative of the government’s attention to this region,” Apfel told Bloomberg, referring to the U.S. President’s recent visit to Myanmar and Cambodia.
Indonesia is the most populous country in the region with 246 million people and its economy is expected to expand 6.3 percent to 6.7 percent in 2013. Thailand has a population of 66.7 million people and its economy is set to grow 4.6 percent next year.