Volkswagen and General Motors yesterday raised their forecasts for car sales in China, as the world's biggest vehicle market keeps beating expectations in spite of Beijing withdrawing some tax incentives.
First-quarter Chinese car sales rose 76 per cent from the year earlier period to 3.52m, according to figures released by the government-affiliated China Association of Automobile Manufacturers.
Kevin Wale, head of GM in China, said the unexpectedly strong growth – which came in spite of the Chinese government tax incentive for small vehicle purchases being halved – would allow the US carmaker to hit its target of 2m sales in China in 2010. That is four years ahead of schedule.
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