General Motors sees 7-10 percent growth in China car market: CEO
General Motors Co
In 2009 it grew 50 percent, 2010 it grew roughly 30 percent, that's not all good either. You can't have totally unbridled growth in a country evolving as quickly as China, Daniel Akerson told reporters in Shanghai.
Our guess is it will probably be closer to 7 to 10 percent growth in the market and I think that's very healthy, Akerson said.
General Motors
China's overall vehicle market sizzled in 2010 with 18 million units sold. But it has now reverted to a more subdued growth pattern after the government ended tax incentives for small car sales and subsidies for van buyers in rural areas.
(Reporting by Melanie Lee; Editing by Paul Tait)
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