GM TO SEEK TURNAROUND IN ASIAN MARKET

AsiaInfo Services, April, 2007

AsiaInfo Services 04-24-2007 GM to Seek Turnaround in Asian Market SHANGHAI, Apr 24, 2007 (SinoCast via COMTEX) -- General Motors Corp., the world's largest automaker, will focus on expanding Asian markets, particularly China and India, in the following years, to save its growing loss. The auto giant lost USD 12 billion in the recent two years.

Its share fell to 26% in the domestic market, much lower than the portion of 56% in 1962, and its stock price dropped by 42%. India's annual car sales will reach 2 million units in 2010 and China's 8.4 million in 2007, forecasts the company. In China, Shanghai Automotive Industry Corporation (Group) (SAIC), one of China's largest automakers and its major partner, will yearly produce 1 million cars in 2010, which will...

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