General Motors (GM) Calls China its "Crown Jewel"
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General Motors Co. (NYSE: GM) announced Tuesday that it will add over 20 new and upgraded models in China, as the U.S. automaker looks regain its No. 1 carmaker title from Toyota Motor Corp. (NYSE: TM).
"China is clearly a crown jewel in the GM universe," said GM Chief Executive Daniel Akerson, speaking in Beijing. "China is a unique market sitting in what I think is the highest growth area in the world for the next 10, 20, 30 years."
GM fell behind Toyota in the race for No.1 in 2007. Akerson did not specify which models would be coming to China.
In the U.S., GM posted January sales increases of 22 percent, leading the market. The company completed a successful IPO last year to leave government protection.
"China is clearly a crown jewel in the GM universe," said GM Chief Executive Daniel Akerson, speaking in Beijing. "China is a unique market sitting in what I think is the highest growth area in the world for the next 10, 20, 30 years."
GM fell behind Toyota in the race for No.1 in 2007. Akerson did not specify which models would be coming to China.
In the U.S., GM posted January sales increases of 22 percent, leading the market. The company completed a successful IPO last year to leave government protection.
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