GM: SUVs, Luxury Cars to Drive 80% of Sales Growth in China

General Motors Co. predicts China’s passenger vehicle market will expand 3%-5% annually through 2020.

The company reiterates its plans to debut 60 new or refreshed models in China over the period, including 13 such vehicles this year. GM estimates 80% of market growth in China will be generated by SUV/crossovers, multipurpose vehicles and luxury cars.

Among GM’s upcoming new models will be 10 Cadillac luxury vehicles, about two dozen SUV/crossover vehicles and 10 hybrid and plug-in models.

GM said a year ago its venture with SAIC Motor Corp. would spend 100 billion yuan ($15.4 billion) to launch 10 new models per year, debut 13 new engines and introduce nine new transmissions through the end of the decade. The company also is targeting a 25%-30% improvement in the average fuel economy of its new-vehicle fleet in China by 2020.