The American Automaker Is Enjoying Record Gains In China’s Rapidly-Growing Automotive Market, Despite Difficulties At Home
GM has enjoyed record success in China over the past four years. But will domestic upstarts like BYD woo Chinese car buyers away? Photo © BusinessWeek
With GM’s impending bankruptcy and restructuring in the news over the last week, it is easy to lose sight of the company’s global reach and mixed revenues. Although the company has had unprecedented difficulties in the North American market, brought on by the global economic downturn, in China — where the company has operated (with a roughly 30-year interruption) for decades — GM has been the leading foreign carmaker for the last four years.
Although China’s domestic car makers — spurred by huge foreign and government investment over the past few years — are making great strides, since the formation of the Shanghai GM joint venture in 1997, the company has worked hard to rebrand itself for the China market. All of this work has paid off in China, since as of last year, GM built an estimated market share of 12.1% on sales of nearly to 1.1 million units.
Posted in Automobile, Business, China, Culture, Investment, Luxury
Tagged Automobile, automotive, buick, BYD, cadillac, car, China, chinese, general motors, GM, GM Shanghai, Luxury, PATAC, porsche, shanghai, shanghai auto show
New Luxury Models From Geely, Great Wall Target Evolving Market, Seeking Market Share From Foreign Brands
The Geely GE: Could Geely's first foray into the luxury market pay off? © Geely
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At the Shanghai Auto Show, foreign car executives have been discussing the prospects for their brands in the mainland China market as domestic carmakers begin to move beyond their traditional low price-point and into more high-end, luxury segments.
Posted in Automobile, Business, China, Luxury
Tagged Automobile, automotive, chery, China, geely, GM, great wall, high-end, Luxury, porsche, porsche panamera, shanghai auto show