General Motors is expecting to see Cadillac sales in China rise by 40 percent this year, according to Businessweek.
Matt Tsien, General Motors' China President, has said they expect to sell around 70,000 Cadillacs by the end of the year. Tsien's forecast comes after GM posted sales of more than 45,000 units by August this year.
If it comes to pass, this would put Cadillac on track to meet its sales goals of delivering 100,000 units by 2015.
"We're very optimistic about the luxury market, we believe that the luxury market by 2016 here will become the largest luxury market in the world, surpassing even the size of luxury in Europe," Tsien said.
"With Johan (de Nysschen), we have somebody that really is an executive that understands luxury, but he also is very, very keen on understanding what do we need here in China for Cadillac to be successful."
General Motors was surpassed last year by Volkswagen AG as the number one car company in China. However, Tsien stated that GM's goal is to meet consumer needs, and not just targeting the market rankings, reports Marketwatch.
Tsien added that the Cruze sedan will have a big role to fulfill in completing General Motors' targets for the Chinese market. "We definitely need the Cruze to be successful," he added.
Additional news say GM is currently on track to spend around $12 billion through 2017 with the goal of improving capacity and product line expansion in China, says a Bloomberg report.
Tsien also stated GM will be redesigning the Chevrolet Sail sedan plus a nine-seater Wuling, both for Chinese markets.
According to Tsien, General Motors is focusing on developing its market for luxury, SUV, and compact cars in China, Reuters reports.
"Cadillac certainly has momentum here in this country. We believe the luxury market here will become the largest in the world in 2016," he stated during a media event in Shanghai.