GM predicts that Chevolet sales will reach 5M

|By:, SA News Editor

GM (GM) forecasts that global Chevrolet sales will hit 5M for the first time in 2013, rising from 4.95M last year.

Sales in he Middle East are expected to contribute to the increase despite the turmoil in the region, although growth in the area is projected to slow to 4-5% from 7-9% over the past three years.

Meanwhile, GM and Toyota (TM) plants in Australia face uncertainty as the country prepares for an election on Saturday. Prime Minister Kevin Rudd has pledged A$6.1B ($5.48) in government subsidies for the car industry through 2020, while opposition leader Tony Abbot, who's leading in the polls, wants to cut A$500M of handouts by 2015.