Sep 24, 5:38 AM EDT

GM says China sales this year to top 3.1 million

AP Photo
AP Photo
Business Video

Interactive
Made in China: Too Many Imports Too Soon?
Latest News
China manufacturing growth in September low

GM says China sales this year to top 3.1 million

China fines GlaxoSmithKline $492M for bribery

Document
Governors' letter seeking federal help for auto industry (PDF)
Multimedia
Toyota recall
50 Years of Honda in the U.S.
Look at Detroit automakers
The Cars That Made Chrysler Famous
Latest News
Ford shares fall as company lowers Europe outlook

Ford recalls 850K cars on short circuit concerns

Ford to add 1,200 workers at Missouri plant

2 Wisconsin families settle with GM over crash

GM says China sales this year to top 3.1 million

German Merck to buy St. Louis-based Sigma-Aldrich

Multimedia
Video photo gallery on trash in China
China celebrates 60th year
Panorama of Tiananmen Square
Remembering Tiananmen
A year after China quake
Migrant laborers struggle to find work
Checking Beijing's Air
China's morning exercises in parks
Exploring Chinese Cuisine
Beijing Architecture Changes For Games
Woman Rescues Homeless Quake Dogs
China Holds Funeral for Panda
China's 1-child Policy Causes Extra Pain
Map of Earthquake Zone in Central China
Entrepreneurs Move Into, Out of China
Olypmics in Beijing Highlight China's Water Woes
Foreign Buyers Head to China Despite Problems
Coal Use Produces Pollution, Illness
Coal Means Profit, Woes for China
China Extending Its Reach Around the World
In China, the Desert Closes In
Latest News
Chinese patriotism fuels cruises to disputed isles

China celebrates new holiday of Martyr's Day

China faces tricky balance in Hong Kong's protests

Japan, N. Korea discuss abductions of Japanese

US envoy says no talks with NKorea in sight

Buy AP Photo Reprints
Audio Slideshow
Panorama of Tiananmen Square
Remembering Tiananmen

SHANGHAI (AP) -- General Motors Co. expects its sales in China this year to top 3.1 million vehicles and sees no impact on business from an anti-monopoly probe of the industry, the president of the automaker's China unit said Wednesday.

Sales growth for GM and its Chinese partners should be slightly ahead of total market growth which is forecast at 8 to 10 percent, Matt Tsien told reporters.

GM and other global automakers are looking to China, the world's biggest auto market by number of vehicles sold, to drive revenues and are investing heavily to appeal to Chinese tastes. 7

GM sales in China should exceed last year's 3.1 million vehicles, Tsien said, though he said he didn't know what the total would be. Last year's sales grew by 11.4 percent over 2012.

China's auto market has cooled as the economy slowed this year, with sales growth tumbling from 13.9 percent in May to 8.5 percent in August.

Tsien's optimistic comments come in the midst of a sweeping investigation of the auto industry by anti-monopoly regulators.

Audi and Chrysler have been fined on charges they improperly set minimum prices for vehicles or service. A group of Japanese auto parts suppliers were fined on charges they colluded to fix prices.

Regulators have not accused GM of wrongdoing.

Tsien said GM has responded to government requests for information but did not consider it an investigation.

"It has no impact on our business or operations," he said.

Also this year, GM's total sales in China since production began in Shanghai in 1999 should reach 20 million, Tsien said.

Sales by the Cadillac luxury unit should rise to about 70,000 vehicles this year, he said.

"We believe the luxury market here in 2016 will be the largest luxury market in the world," Tsien said.

The government announced rules last week aimed at lowering prices for spare parts by requiring automakers to allow them to be sold through other retailers. Buyers have complained automakers abuse their control over supplies of parts to charge excessive prices.

An official cited earlier by the government's Xinhua News Agency said prices charged by Mercedes for spare parts were so high that purchasing the components used to make one Mercedes C-class car would cost the equivalent of 12 vehicles.

Asked whether dealers had expressed any concern about the future of their relationship with GM, Tsien said, "No, no."

---

AP researcher Fu Ting in Shanghai contributed.

© 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy and Terms of Use.