GM aims to grab 10pc of Asian market
Ap, Hanoi
General Motors Corp., its market share shrinking at home, is turning to Asia to boost its profits, and aims to capture 10 percent of the region's market by 2010, the U.S. automaker's regional chief said Friday.Top target markets are China and India, where rapid economic growth is fueling demand for cars, said Nick Reilly, president of GM Asia Pacific. GM aims to sell 1.3 million vehicles in Asia this year to grab a 6.5 percent market share, two-thirds of which is expected to come from China, he said. Last year, GM's sales hit just over 1 million units in Asia for the first time, giving it a market share of 5.7 percent. The company also plans to strengthen its presence in South Korea and Southeast Asia, especially Malaysia and Indonesia, Reilly told The Associated Press in an interview on the sidelines of a regional business forum here.
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