SHANGHAI (AFP) – US auto giant General Motors (GM) expects to sell a record number of cars in China 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 per cent 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.
Shanghai General Motors said last month that it was “actively” cooperating with authorities on the issue, and would continue to comply with Chinese laws and policies.