Ammann, Tsien Outline GM’s Growth Strategy in China
In an address issued in Beijing by GM President Dan Ammann and GM Executive Vice President and GM China President Matt Tsien, General Motors detailed its growth strategy for China for the next five years. Plans call for more than 60 new or improved vehicles to be launched by 2020, including no fewer than 13 models being rolled out this year.
General Motors will also stay consistent with growing demand in China for SUVs, luxury vehicles, and alternative fuel vehicles. Growth for SUV, MPV, and luxury sales in China is expected to exceed 4 million units through 2020, and the luxury segment alone is anticipated to deliver compound annual growth over 10% during that time. Accordingly, two-thirds of GM’s new or refreshed vehicles launched in the next five years will be SUVs and MPVs, and the Cadillac brand will be bolstered by 10 new or refreshed models.
One of those new Cadillacs will be the Cadillac CT6 Plug-in Hybrid Electric Vehicle launching later this year, which will also be one of 10 new energy vehicles planned between the Chevrolet, Buick, Cadillac, and Baojun brands.
GM anticipates that new vehicle sales in China will increase by at least 5 million units by 2020, making the introduction of new models vital for the long-term success of the company. In 2015, China made up around one-third of all of GM’s global deliveries.
“GM is very well positioned to participate in this growth,” said Tsien. “We will continue to focus on the segments where the demand is strong and growing. This has been a key to our success from day one.”