Chevrolet Developing All-New Lineup for Growing Global Markets
Today General Motors announced its plan to invest $5 billion in developing an all-new Chevrolet vehicle lineup to expand its market share in emerging global markets such as Brazil, China, India and Mexico.
“With a significant majority of anticipated automotive industry growth in 2015 to 2030 outside of mature markets, Chevrolet is taking steps to capitalize on that growth,” said GM President Dan Ammann. “Strengthening Chevrolet’s position through this major investment is consistent with our global strategy to ensure long-term profitable growth in the markets where we operate.”
Chevrolet will be working with Chinese partner SAIC to create one all-new vehicle family that will replace several existent compacts and subcompacts that are currently being sold in these global market. The two companies are targeting 2019 as the year these new models will begin being sold, and hope to move two million units each year through 2030.
“This new vehicle family will feature advanced customer-facing technologies focused on connectivity, safety and fuel efficiency delivered at a compelling value,” said GM executive Mark Reuss. “It will be a combination of content and value not offered previously by any automaker in these markets that are poised for growth.”
These new automobiles are being developed by a multinational team of engineers and designers who are specifically tailoring each vehicle to meet the expectations of customers in its respective market. They will be manufactured and sold in Brazil, China, India and Mexico, and exported for sale in other important growth markets (though not the United State, according to GM).
“We have taken many decisive actions over the past few years to restructure our business in specific markets as part of our plan to become a more customer-focused company and to generate superior returns on our owners’ capital,” Ammann said. ”This growth initiative is the next important step toward our goal of building the world’s most valued automotive company.”
GM promises more information on the investment plans and the all-new vehicles themselves will be announced in the future in each market.