GM 'bullish' on China's recovering car market

Beijing

GENERAL Motors Co is "quite bullish" about the recovering car market in China and is responding to a shift in growth towards utilitarian models in smaller cities, a segment often ignored by foreign carmakers, said GM China chief Matt Tsien.

GM expects the market to grow to around 30 million vehicles by 2020 from 24.6 million last year, and is confident that its local budget car joint venture gives it an edge over global rivals in growth areas outside the major cities, Mr Tsien said in an interview. "And it is going to grow beyond that," he said, referring to China's overall car market. "There will be a point of saturation, but we are probably a decade away."