GM’s $5 billion China Vision
GM has a vision to expand in China.
Doesn't everybody?
GM will spend $1 billion each year for the next five years.
How much do you plan to spend?
GM wants to spend the money on:
1. car and engine development,
2. production facilities,
3. technical support
4. after-sales support
5. infrastructure,
GM will sell more than 1 million, more than one-tenth of the company's total, in China in 2008.
China's 9.6% growth average over the past five years makes cars more affordable. Next year alone, China will want 9.5 - 10 million vehicles.
This year sales will be 8-8.5 million.
GM posted a net income of $481 million in Asia-Pacific for the first nine months of this year. It made $754 million in Latin America.
The company lost $2.6 billion in Europe. In North America it lost $34.7 billion!!!
How can a company lose that much unless they had much more than that in the bank before they did?
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POSTED IN: Doing Business in China
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