A list of the corporations that have been devastated by the economic downturn will place GM at the cream of the list. GM has suffered plant closures, job cuts, dealership axing, losses of up to $6b in a single quarter, government imposed restructuring deadlines and has $15.4b in federal loans.
In a report issued on Wednesday by GM Shanghai, it is no surprise that General Motors Corp. plans to begin exports of mainly small vehicles (similar to Chevrolet Spark) made in China to the United States within two years, ramping up sales to more than 50,000 by 2014. This figures are based on a company recovery plan given to US lawmakers.
GM intends to sell 17,335 made-in-China passenger cars in the US market by 2011, and more than 51,000 by 2014 according to Shanghai Securities News.
If it works out, they will be the first automaker to export to the US from China, since stringent US safety standards and consumer confidence has kept Chinese players at bay.
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