GM expects its 2009 China sales to grow 5-10%

Shanghai, April 21 (Gasgoo.com) General Motors expects its sales in China, which has overtaken the United States as the world's largest auto market, to grow 5 to 10% this year, GM China CEO Kevin Wale said on Monday at the 2009 Shanghai auto show, Reuters reported.

GM Asia-Pacific chief Nick Reilly added that the future success of the struggling company, which is working to complete a restructuring that could include a bankruptcy filing, depended on the Asia-Pacific region and that it was seeking opportunities in the countries of the ASEAN (Association of Southeast Asian Nations).

China has been one of the leading bright markets of the struggling global auto industry, posting year-on-year sales growth of more than 10% in March as government stimulus measures helped fuel a recovery in auto demand.

Earlier this month, GM said it aims to double its annual sales in China to 2 million vehicles in five years. To meet that target, the U.S. auto maker plans to add more than 30 new or upgraded models in China during that period.

Nick Reilly also said on Monday that GM's restructuring plan would not affect its business in China, adding that the company had always regarded the Chinese market as one of the most important worldwide.

Shanghai GM and Shanghai-based SGMW sold 338,700 passenger cars in the first quarter this year, accounting for 17% of the country's total sales, an industry association reported.

The GM China family will be displaying 37 production and concept vehicles at Auto Shanghai 2009, this year's leading auto show in China, which began on April 20 and will run through April 28.