In order to significantly increase its market share in China, General Motors will invest $11 billion through 2016, including for the construction of a Cadillac assembly plant that has just begun in Shanghai.
By launching a new model every year through 2016, GM hopes to triple Cadillac sales in China by 2015, reaching 100,000 units annually.
That's a big challenge given that demand for luxury products in China has fallen since President Xi Jinping, who took over as Communist Party secretary in November, ordered officials to cut down on lavish spending.
"You have to build a brand in a market like China," GM CEO Dan Akerson said. "Twenty five, 30 years ago, you didn't see many Audis in the United States, not that many BMWs. If you bring good products to the market, then it's up to us to sell, make the public aware of the features, functionality and quality of the car."
Source : Automotive News
By launching a new model every year through 2016, GM hopes to triple Cadillac sales in China by 2015, reaching 100,000 units annually.
That's a big challenge given that demand for luxury products in China has fallen since President Xi Jinping, who took over as Communist Party secretary in November, ordered officials to cut down on lavish spending.
"You have to build a brand in a market like China," GM CEO Dan Akerson said. "Twenty five, 30 years ago, you didn't see many Audis in the United States, not that many BMWs. If you bring good products to the market, then it's up to us to sell, make the public aware of the features, functionality and quality of the car."
Source : Automotive News
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| Photo: GM |