General Motors will sell more than 2 million cars in China this year making the country its biggest market in the world, find rocketing past its US home turf.
And sales are expected to rise as demand for new cars in the huge country surge from 17 million last year to 30 million by 2020.
Kevin Wale, remedy president and managing director of GM China, who – until five years ago – was boss of Vauxhall in the UK, said: “Growth has been far more dynamic than I would have believed and it will continue. Next year we could see the market hit 19 million and it will remain dominant in the world by a long way.”
He said: “By the time we reach 2020 the market in China will be three times larger than India which by then will be in second place. As incomes increase so will car ownership.”
The growth is already occurring as more people are starting to earn enough money to buy a car.
They are backed by government incentives such as tax breaks to encourage them to buy small cars with low capacity engines.
Wale added: “There are now more, cheaper vehicles available and demand is rising outside the major cities. People love cars here just as they do anywhere else.”