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GM Expects to Maintain Profit Margins in China
General Motors Co. expects to sustain profit margins of 9%-10% in China in spite of the market's rising price pressures and shrinking growth rate.
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General Motors Co. expects to sustain profit margins of 9%-10% in China in spite of the market's rising price pressures and shrinking growth rate.
Matthew Tsien, who heads GM's China unit, tells The Wall Street Journal that unspecified cost-cutting measures and a richer mix of products especially SUVs will offset those challenges.
Last year GM's sales in China expanded 12%. But growth slowed to 9% in the first quarter of 2015. Last week the company cut prices on 40 models by as much as 53,900 yuan ($8,700).
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