Gasgoo.com (Shanghai February 14) - The CEO and Chairman of General Motors, Daniel F. Akerson (pictured), is scheduled to hold his first meeting with Chinese media sources tomorrow, NDDaily reported this morning. Mr. Akerson is expected to introduce GM's long-term strategy and hopes for China, as well as discuss the company's recovery after reorganization last year and its subsequent successes in the Chinese market.
Mr. Akerson previously worked at telecom firms MCI and Nextel and is on the Carlyle Group's board of directors. He was originally recommended to GM's board of directors in 2009 by the company's then majority shareholder, the US Treasury.
China's role in GM's recovery from bankruptcy
GM China officially released its January sales figures last week, reporting total domestic sales of 268,071 vehicles. The year-on-year rise in sales of 22.3 percent was much higher then the industry average, with the company's two Chinese joint ventures Shanghai GM and SGMW setting new personal records for monthly sales of 131,944 (increasing 46.3 percent from January 2010) and 132,658 units (increasing 10.6 percent), respectively.
GM had already lost its spot as the world's leading automobile manufacturer back in 2008 to Toyota, and, despite its exemplary performance in China and recovering sales in its home market last year, is still 30,000 sales behind its Japanese rival. Mr. Akerson's announcement to speak with Chinese press comes at a turning point in the company's plans as it seeks to reclaim the coveted number one position.
At this year's North American International Auto Show in Detroit, GM's mid-class Buick Verano sedan made its 'worldwide debut.' In actuality, the car has been sold in China for many years as the Buick Excelle GT. GM is also bringing its Chevy Volt plug-in hybrid electric to China at the end of this year, the first market for the car outside of the US. Its clear that China's position in GM's overall strategy is becoming more and more important.
