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GM's share of market grows 35.2 pct in 2005
(AP)
Updated: 2006-01-05 15:58
GM's flagship joint venture in Shanghai, Shanghai General Motors Corp., sold 325,429 vehicles, up 28.7 percent from the previous year, the company said in a news release.
General Motors has opened a second plant in Shanghai last year and added three new Chevrolet models in 2005, the Sail compact car, Epica intermediate sedan and Aveo hatchback. That pushed China sales for the brand past the 100,000 mark for the first time, establishing China as Chevrolet's fourth-largest global market.
The sales growth gives the world's largest automaker about 11.2 percent of the Chinese market, up from 9.4 percent in 2003.
"GM benefited from an unprecedented number of new and upgraded product introductions as well as a growing portfolio of brands," Kevin Wale, president and managing director of the GM China Group, was quoted as saying in the release.
New models under the Buick, Chevrolet and Cadillac brands will be introduced this year to keep up with what Wale predicted would be 10 and 15 percent growth in the Chinese vehicle market.
"We have no intention of letting up on the accelerator," Wale said.
GM gave no figures for profits in its China operations.
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