GM CEO sees China’s auto-market share growing
General Motors Co’s departing CEO predicts “one or two global Chinese champions” will begin to snatch market share from American automakers in “20 to 30 years”.
“It’s only a matter of time,” Daniel Akerson told a National Press Club luncheon in discussing the largest US automaker’s investment plans and the state of the auto industry.
China, which overtook the US in 2009 to become the world’s largest automotive market by sales, does not export any domestically produced vehicles to North America, with the exception of small trucks and vans.
Akerson is a former telecom executive who joined GM in 2010. He will step down Jan 15 and be succeeded by productdevelopment chief Mary Barra, the first woman to hold the CEO post.