Speaking on the eve of GM's first annual shareholders meeting since its initial public offering last fall, CEO Dan Akerson announced that Cadillacs would soon be manufactured outside of Canada and the United States.
He said overseas production would reduce the risk of foreign-currency fluctuations and allow the automaker to better manage its supply chain. GM's plan is to accelerate overseas sales of Cadillac and put the luxury brand in a better position to take on European rivals such as Mercedes-Benz and BMW.
“We're going to try to define a slightly different brand and product strategy by having a global premium brand, Cadillac, and a global value brand, Chevrolet,” Akerson told reporters.
According to the 62-year-old executive, the strategy is similar to Toyota's, which sells cars under its own brand name as well as luxury models under the Lexus banner.
This doesn't mean “regional brands” like Opel and Buick will lose their premium status, let alone disappear altogether. Rather, they will serve to support both Cadillac and Chevrolet.
Cadillacs have long been sold outside of North America, including in China, but they're still produced in Canada and the U.S. exclusively.
Source : AutoWeek
He said overseas production would reduce the risk of foreign-currency fluctuations and allow the automaker to better manage its supply chain. GM's plan is to accelerate overseas sales of Cadillac and put the luxury brand in a better position to take on European rivals such as Mercedes-Benz and BMW.
“We're going to try to define a slightly different brand and product strategy by having a global premium brand, Cadillac, and a global value brand, Chevrolet,” Akerson told reporters.
According to the 62-year-old executive, the strategy is similar to Toyota's, which sells cars under its own brand name as well as luxury models under the Lexus banner.
This doesn't mean “regional brands” like Opel and Buick will lose their premium status, let alone disappear altogether. Rather, they will serve to support both Cadillac and Chevrolet.
Cadillacs have long been sold outside of North America, including in China, but they're still produced in Canada and the U.S. exclusively.
Source : AutoWeek