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Cadillac sales surge 149% in Chinese market
Shanghai. March 21 (Gasgoo.com) –Cadillac sales in China rose 149 percent to 4,028 vehicles in 2007, making China one of the fastest growing markets for this world class luxurious car.
"China is likely to become Cadillac’s second largest market worldwide after the United States this year,” said Ding Lei, general manager of Shanghai General Motors, adding that Canada is Cadillac’s another fastest growing market.
Cadillac’s global sales manager John F. Howell said the Chinese market has an enormous potential for Cadillac vehicles. He also revealed that Cadillac sold 190,000 vehicles in North American market last year and 25,000-30,000 vehicles in markets outside North America.
Shanghai General Motors announced last week to introduce four Cadillac CTS models to Chinese market via importation in efforts to gain a bigger share in China's booming luxury car market.
Priced between RMB370,000 ($52,000) and RMB 550,000 ($77,640), the 2008 Cadillac CTS will come to China in four editions, including two 2.8L and two 3.6L models.
"China’s luxury vehicle market has experienced an annual growth of more than 50 percent since 2005, much faster than the industry average," Ding Lei, General Manager of Shanghai GM told Shanghai Securities News.
The table below shows Cadillac sales in Chinese market in 2007.
|
Cadillac CTS
|
2,112
|
-4.50%
|
|
Cadillac XLR
|
21
|
133.30%
|
|
Cadillac SLS
|
4,380
|
n.a.
|
|
Cadillac SRX
|
354
|
-41.90%
|
|
Cadillac Escalade
|
161
|
n.a.
|
|
TOTAL
|
7,028
|
|
Source: China Association of Automobile Manufacturers.
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