GM Plans to Launch 15 New and Redesigned Vehicles in China During 2018
China currently possesses the largest automotive market in the world. Furthermore, China happens to be the most lucrative market for several of the brands in the General Motors family, including Cadillac and Buick.
To capitalize on this current sales momentum, GM is preparing to launch 15 new and redesigned vehicles for the Chinese market during 2018.
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Half of these new vehicles will reportedly be SUVs and minivans. Similarly to the situation in the U.S., Chinese drivers have recently begun to favor larger utility vehicle over passenger cars.
“GM will sharpen its focus on the segments with the strongest consumer demand such as SUVs, MPVs and luxury vehicles,” GM said in an issued statement.
Many of the remaining new models will be released under the Cadillac namesake. Last year, China surpassed the United States as Cadillac’s single largest market.
Cadillac sales increased by an impressive 50.8% in China last year, with a total of 175,489 Cadillac vehicles sold in the country. At the same time, Cadillac’s domestic sales in the U.S. fell by 8%.
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Altogether, GM and its local Chinese partners sold a total of 4.04 million vehicles in China during 2017. This accounts for a sales increase of 4.4% compared to GM’s sales performance in China during 2016.
At the same time, a total of 28.88 million vehicles were sold in China last year. That amount was 3% more than the number of Chinese vehicles sold during 2016, meaning GM outpaced China’s overall automotive growth.
As China becomes a more important market for General Motors, we will very likely see even more GM models introduced to Chinese buyers in the near future.
News Source: Reuters