With the end of China’s government stimulus program by the end of the year, General Motors Co. forecasts that its sales growth in the country will drop drastically in 2010. In an interview with Reuters, Kevin Wale, president of GM’s China operations, said that China sales were expected to rise 50 percent in 2009 but in 2010, only 10 percent to 15 percent is expected. At the sidelines of the Guangzhou Auto Show, Wale had said that GM’s full-year forecast had been changing each month. Unlike most markets throughout the globe, China’s auto market has been a major bright spot in 2009 due to a number of government incentives, including aggressive cuts in sales taxes on small cars. GM’s China vehicle sales in October more than doubled from a year earlier to 166,911. From January to November, GM and its joint venture partners have sold a total of 1.5 million vehicles in China.

[via autonews]

Tags: car news, general motors, gm china sales, gm news

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