Arab Today, arab today gm expects record 2014 sales in china
Last Updated : GMT 11:50:19
Arab Today, arab today
Arab Today, arab today

GM expects record 2014 sales in China

Arab Today, arab today

Arab Today, arab today GM expects record 2014 sales in China

A new Chevrolet Trax car on the GM
Shanghai - AFP

US auto giant General Motors (GM) expects to sell a record number of cars in China -- its biggest market -- this year, an executive said Wednesday, 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.
Shanghai General Motors -- a joint venture between GM and Shanghai Automotive Industry Corp -- said last month that it was "actively" cooperating with authorities on the issue, and would continue to comply with Chinese laws and policies.
Tsien described the enquiries about spare parts pricing as routine and denied it was an investigation.
"It has had no impact on our business and our operations," he told journalists at a briefing, adding: "We operate in absolute compliance with laws and regulations in this country."
Earlier this month China fined an affiliate of German carmaker Volkswagen more than $40.5 million for fixing prices of cars and repair services for its Audi brand.
Separately, Chrysler of the United States -- which has merged with Italy's Fiat -- was hit with a fine of $5.2 million for requiring dealers to maintain recommended prices.
In August the government fined 10 Japanese auto parts firms more than $200 million in total for price-fixing. Dealers for German luxury auto maker BMW were also punished last month for "forming a price alliance".
GM expects the market to grow eight to 10 percent this year compared to 2013, with its own performance slightly outpacing this, Tsien said.
"We will not only grow in volume but we will grow also in terms of market share," he said, putting its current share of the Chinese market at 14.7 percent.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today gm expects record 2014 sales in china Arab Today, arab today gm expects record 2014 sales in china

 



Arab Today, arab today
Arab Today, arab today Nohan Seyam designs beautiful accessories

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Top Yemen commander killed

GMT 09:55 2017 Wednesday ,22 February

Top Yemen commander killed
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims

GMT 06:11 2017 Wednesday ,22 February

Russia’s Rosneft, Libya’s NOC sign oil offtake deal

GMT 05:49 2017 Wednesday ,22 February

‘PSA to honor Opel job guarantees’

GMT 05:41 2017 Wednesday ,22 February

BHP to Trump: Protectionism will hurt growth

GMT 20:42 2017 Tuesday ,21 February

Amazon plans 5,000 new jobs in UK

GMT 05:43 2017 Tuesday ,21 February

CEFC China Energy wins 4% stake in UAE oil project
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Janat pleased for issuing 'Good Morning'

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday