GM sold 2.55 million units in China amidst waning industry demand
By Julybien, 10 Jan, 2012. 0 Comments
GM Renaissance Center
General Motors Co. posted an 8.3% increase in sales in China in 2011 to 2.55 million units, pushed by high demand for its Buick and Chevrolet vehicles. The company’s venture with SAIC Motor Corp. posted a 4.8% hike in Chinese sales in 2011 to 1.29 million mini commercial vehicles and sedans. The 2011 figures were spurred by the release of new brand Baojun as well as discounts on light trucks.
In April 2011, GM said it will unveil more than 60 new and upgraded models in the five years from 2011 to 2015. GM plans to expand its Cadillac brand and to introduce the Malibu sedan in China in 2012. The company posted growth despite waning demand for cars in China, caused by inflation and the end of a two-year stimulus plan.
John Zeng of LMC Automotive said GM’s growth can be attributed to the carmaker’s two-prong attack. "In higher-end models they introduced a curvy European style which Chinese consumers liked, and in the low-end market they launched completely locally designed models."
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