General Motors is remaining optimistic when it comes to the Chinese market. According to The Detroit News, the automaker is still expecting a three- to five-percent growth through the year 2020.
Matt Tsien, GM’s China president, told executives during a roundtable discussion with reporters it will not change its current investment plans in the country, which is also GM’s largest sales market. 37-percent of the automaker’s sales come from China, even with the economic conditions maturing.
As of recent, GM’s sales statistics have fallen short of industry averages in the country, which hover around six-percent. However, Tsien stated April sales are projected to “shape up to be a pretty good month.” Within the next four years, GM will launch 60 new or refreshed vehicles in China. And, surprise, 40-percent of them will be crossovers or utility vehicles.
All of this news follows GM CEO Mary Barra’s plan to invest $14 billion into new vehicles for China through 2018, which was announced last year.