This article was originally published by TheStreet on May 21, 2014.
By Sarfaraz A. Khan. Research Asst. Gohar Yousuf
NEW YORK (TheStreet) -- Leading U.S. automaker General Motors (GM_) has been struggling at home due to its worsening recall crisis, but it's expecting robust sales growth in its second home, China.
The company's president predicted 8% to 10% growth in vehicle sales in China this year, according to a report in The Wall Street Journal.
GM is the No. 2 carmaker in China, the world's biggest auto market. The company is expanding its production capacity in the country to meet the rising demand. It faces tough competition, however, from international rivals, particularly Volkswagen AG (VLKAY_), which plans to spend nearly $25 billion in the country over the next four years.
The company's president predicted 8% to 10% growth in vehicle sales in China this year, according to a report in The Wall Street Journal.
GM is the No. 2 carmaker in China, the world's biggest auto market. The company is expanding its production capacity in the country to meet the rising demand. It faces tough competition, however, from international rivals, particularly Volkswagen AG (VLKAY_), which plans to spend nearly $25 billion in the country over the next four years.