GM’s Akerson: China Loves American Cars, Cadillacs

Tuesday, 01 May 2012 05:41 PM

By Jim Meyers and Kathleen Walter

  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink
The Chinese “love” American cars and General Motors has plans to open 600 new dealerships in China in the coming years, GM Chairman Daniel Akerson tells Newsmax.TV.

“If you look at year over year, we’ve gained two-and-a-half, three percent of the market there,” he says.

“Our products that are selling well there are Buicks, Chevrolets. They love American cars. So we’re going to start manufacturing Cadillacs in China.

“People say why don’t you make them here. Well, there are import duties. Our margins are not thin but they’re not high. You have foreign currency fluctuations. We like to sell where we build.

“And so you look at the Chinese market, it’s estimated that by 2020, 40 percent of the luxury brands in automobiles will be sold in China with the emergence of the middle class and higher per capita income.”




See other exclusive excerpts from the Daniel Akerson interview:


© 2014 Newsmax. All rights reserved.

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Sony Hackers Taunt FBI, 'Congratulate' Its Success

Saturday, 20 Dec 2014 20:06 PM

A new message claiming to be from the group responsible for the Sony Pictures hack appears to mock the FBI, which named  . . .

US Turns to China to Help Stop NKorean Hackers

Saturday, 20 Dec 2014 19:42 PM

The Obama administration is seeking China's help in stopping North Korea from launching future cyber-attacks, the New Yo . . .

RNC to Theaters: 'We Cannot Be Bullied,' Show 'Interview'

Saturday, 20 Dec 2014 19:20 PM

The Republican National Committee is urging theater owners to play the The Interview following Sony's decision to pull . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved