GM, VW eye world No. 1 rank
Source: Bloomberg News |
April 21, 2011, Thursday
|
Print Edition
Print Edition
GENERAL Motors Co and Volkswagen AG expect to boost vehicle sales in China faster than the nation's economic growth rate, defying government policies to curb sales and threatening Toyota Motor Corp's standing as the world's largest car maker.
GM, the largest United States automaker, plans to double sales in China to 5 million vehicles by 2015, the Detroit-based company said at this week's Shanghai auto show. Germany's Volkswagen, the biggest maker of passenger cars in China, said it may outpace industry-wide sales growth of as much as 12 percent.
Car makers are boosting sales and production plans even after the government ended industry subsidies and as cities, including Shanghai and Beijing, restrict new car licenses to fight pollution and ease traffic. GM's sales target may enable it to retake the global sales title it lost to Toyota in 2008.
"You get used to not worrying about variations around the trend line," Kevin Wale, GM's China president, said yesterday. "In the past 10 years, China's growth rate has only been below 10 percent in one year. The underlying trend is very strong."
GM's prediction of 5 million sales compares with Toyota's goal of doubling deliveries in the nation by 2015 from 846,000 vehicles last year. The Japanese company sold 8.42 million vehicles globally last year, compared with GM's 8.39 million.
China is already GM's biggest market, with 2.35 million sales last year, compared to 2.21 million in the US.
Volkswagen sold 1.92 million vehicles in China and has said it aims to be the world's biggest car maker by 2018, surpassing Toyota and GM.
Wolfsburg-based VW sold 7.14 million vehicles globally in 2010.
GM, the largest United States automaker, plans to double sales in China to 5 million vehicles by 2015, the Detroit-based company said at this week's Shanghai auto show. Germany's Volkswagen, the biggest maker of passenger cars in China, said it may outpace industry-wide sales growth of as much as 12 percent.
Car makers are boosting sales and production plans even after the government ended industry subsidies and as cities, including Shanghai and Beijing, restrict new car licenses to fight pollution and ease traffic. GM's sales target may enable it to retake the global sales title it lost to Toyota in 2008.
"You get used to not worrying about variations around the trend line," Kevin Wale, GM's China president, said yesterday. "In the past 10 years, China's growth rate has only been below 10 percent in one year. The underlying trend is very strong."
GM's prediction of 5 million sales compares with Toyota's goal of doubling deliveries in the nation by 2015 from 846,000 vehicles last year. The Japanese company sold 8.42 million vehicles globally last year, compared with GM's 8.39 million.
China is already GM's biggest market, with 2.35 million sales last year, compared to 2.21 million in the US.
Volkswagen sold 1.92 million vehicles in China and has said it aims to be the world's biggest car maker by 2018, surpassing Toyota and GM.
Wolfsburg-based VW sold 7.14 million vehicles globally in 2010.
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