US carmakers aim for luxury market in China

Detroit

CHINA is the new El Dorado for US carmakers looking to develop sales of their luxury brands, which globally are lagging behind German and Japanese competitors.

General Motors, the largest US carmaker, already sells more cars in China each month than it does in its home market and expects that to continue. "Our joint ventures in China are working to boost production capacity by 30 per cent to more than five million units annually by 2015," GM executive Mary Barra said at the firm's annual shareholders meeting.