The bull run in demand for cars in China and India may come to an end, the world's second largest carmaker General Motors said on Thursday.
GM, which launched a locally developed range of engine Smartech, said the over 30% rate of growth witnessed in the two markets was unsustainable and would see a moderation in 2011.
"These growth rates of 30% in China are just not sustainable," said Tim Lee, president, GM International Operations. "We see sales growth slowing to 10-15% in China and India."
Car sales in China grew by 32% in 2010 and 31% in India and the two markets have been the fastest growing over the last two years. Despite the projection of a moderation, GM expects its own sales in India to triple to 3 lakh units per annum by 2013. It has already announced that it will launch 4 new cars and 2 commercial vehicles in India over the next 2 years.