Mary Bora, the new CEO of General Motor has recently visited China for the first time. Bora said in an interview, in 2016, General Motor’s Join venture in China will invest a total of 11 billion dollars in three fields: products, production capacity and talents. GM China and its Joint venture in China will release 19 all new designed or redesigned models this year, meanwhile the GM international operations will release approximately 20 new designed models in almost one hundred of its jurisdiction of regional markets.
The industry believes that, as the first female multinational auto companies CEO, Bora came to the world’s largest single market China, only a moth after she became the CEO of GM, it shows the importance of the Chinese market.
According to statistics, GM sales 3.16 million cars in Chinese market in 2013, compare to last year, it has an increase of 11.4%; The sales in Chinese market account for approximately 33% of worldwide sale. Thanks to the world largest market, in 2013 Buick’s global sale broke its records, achieved the best result since it was founded from 110 years ago.
Although, it has a dramatic increase in sales, but GM consecutive nine years sales champion in Chinese market has occupied by Volkswagen. Bora believes that, GM will keep invest in Chinese market, to ensure the company maintain its leading position in the global automotive industry.
Facing to competitors, GM China plans to focus on the development of growth in economic models and luxury brand. “In order to maintain competitiveness in global market, we will launch more sedans, trucks and crossover on the market.”Bora said.
In order to expand the luxury brand Cadillac’s production line, the Cadillac XTS model has been produce and sales in domestic market since March in last year, it becomes a milestone of this brand in Chinese market. In November of last year, Cadillac ATS was introduce to Chinese market as an imported model in the initial stage. According to Cadillac’s plan, the company will launch a new model in Chinese market every year, the company is planning to achieve “Double ten”goal in Chinese market in 2015, which means the sales and productions will be both excess 100 thousand cars.
Meanwhile, Bora think that in order to achieve 5 million production target in 2015, the investment in Chinese market should be balanced between Buick, Chevrolet, and Cadillac. “China, as the largest market for GM, will play a critical role in new models, services and technology R&D in the future”Bora said.
