January 10, 2011 / 8:33 PM / in 7 years

AUTOSHOW-GM sees China growth 10-15 pct next five years

DETROIT, Jan 10 (Reuters) - China’s burgeoning auto market could grow at a sustainable 10 to 15 percent rate over the next five years, the president and managing director of General Motors GM.N GM China Group said on Monday.

GM expects “continued growth in the car market but at a more sustainable rate compared to the somewhat exceptional rates we have had in the last two years,” GM China Group President and Managing Director Kevin Wale said in an interview on the sidelines of the Detroit auto show.

Wale said the Chinese economy was solid and the rate of growth in the China market would slow down naturally with the maturation of the market as demand is fulfilled and the used car market grows. (For more on the Detroit auto show: [ID:nN09216892] ) (Reporting by David Bailey, editing by Matthew Lewis)

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