GM execs say foreign markets are key to growth

Wednesday, 30 June 2010, 06:07 Hrs
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Detroit: General Motors Company plans to introduce 70 new or upgraded vehicles in international markets by 2014 as it tries to expand business in areas it considers key to its growth.

Company executives told financial analysts today that GM is the industry leader in the combined markets of Brazil, Russia, India and China. GM is holding meetings for analysts to lay the groundwork for a public stock sale that could come later this year.

President of International Operations Tim Lee said GM has been the sales leader in China for the past five years, with sales growing 67 per cent since 2008.

He said GM is on track to be the first global automaker to sell more than 2 million vehicles in China this year. GM says overall auto sales in China will rise 20 per cent this year to 16.5 million.
Source: PTI
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