General Motors on Wednesday said its sales in China jumped 18.9% in the first half of this year to a record 308,722 vehicles.
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According to an Associated Press (AP) report, the announcement suggested that China’s auto market has started to rebound after growth slowed last year.
GM reportedly said it expects sales to pick up further in the second half of the year with the launch of new models, including Cadillacs and Buicks targeting wealthy buyers.
“We think this year’s going to be another strong year,” Kevin Wale, GM China Group president and managing director, reportedly told Dow Jones Newswires.
“We expect growth to be between 10% and 15%, and we expect growth to continue at that level for quite some time, which under any international standards is a phenomenal rate of development,” Wale said.
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By GlobalData“I see the Chinese market developing in a very similar way to every other major car market in the world – except about five times faster.”
