Two Big 3 Automakers Expect Growth in China for 2014

Two of the big three Detroit automakers anticipate expansion in their Chinese markets this year. Both GM China and Ford Motor China said they expect to outpace market growth. GM China expects between 8 and 10 percent growth for 2014, spokesperson Dayna Hart told Benzinga. Earlier this month,

that the company's joint ventures plan to invest about $11 billion in vehicles, facilities and people through 2016. The company also plans to launch 19 new or upgraded models this year, Hart said, as well as open two new manufacturing plants. “We are especially focused this year on sport utility vehicles and luxury vehicles,” she said. “Both are hot and growing segments of the Chinese market.” GM and its joint ventures reported record sales for January.

it sold 348, 061 units, up 12 percent from January of last year. Ford Motor China CEO John Lawler said he expects the overall Chinese automotive industry to grow between 7.5 and 8 percent this year, and he anticipates a higher growth for Ford,

. The company hopes to sell more than one million vehicles in the country this year, according to the WSJ.

reached 94,466 wholesales, a 53 percent increase from the same month last year. The Chinese automotive industry sold more than 21.9 million vehicles in 2013, a 13.9 percent year on year increase, according to the

.