GM to break even in Asia

GM to break even in Asia

DETROIT (Reuters): General Motors Corp., which lost US$243 million in Asia-Pacific in 1998, expects to break even there in 2000, Rudolph Schlais, the automaker's president of operations in the region, said on Friday.

Stronger sales in Thailand, South Korea and Australia will help the region bounce back, Schlais said during an appearance on the weekly public television program Autoline Detroit.

He said South Korea is coming back the fastest, and Indonesia should strengthen following presidential elections later this year. Japan remains a question mark, he added.

Sales of Buick sedans, which started rolling off the line in April at the new Shanghai assembly plant, have totaled 3,000 so far and are running ahead of schedule, he said.

The Shanghai plant will begin manufacturing a minivan based on the Pontiac TranSport next year called the W-Wagon. And in Thailand, GM will begin manufacturing about 40,000 Opel Zafiras next May.

GM's Holden subsidiary in Australia is working with Isuzu Motors Motors Ltd. to develop a small car exclusively for the Asian market, he said.