SHANGHAI: US auto giant General Motors (GM) expects to sell a record number of cars in China — its biggest market — this year, an executive said yesterday, despite an investigation of the sector over pricing policies.
“We’re on track to surpass three million sales for the second consecutive year. We’re certainly expected to top last year’s record of 3.16 million vehicles,” said Matthew Tsien, president of GM China.
China is the world’s largest auto market. Last year, overall auto sales in the country surged 13.9 percent year-on-year to 21.98 million vehicles. A government agency, the National Development and Reform Commission, is carrying out a lengthy probe into how whole vehicles and spare parts are priced, fining some foreign companies for what it deems monopoly behaviour — a move which some analysts say could boost sales of local brands. Tsien described the enquiries about spare parts pricing as routine and denied it was an investigation. AFP
