Interestingly, General Motors is selling more cars in China each month than it is in America, and it expects this trend to continue. As GM Executive Mary Barra told the firm at their annual shareholders meeting, “Our joint ventures in China are working to boost production capacity by 30 per cent to more than five million units annually by 2015.”
GM President Dan Ammann said, “Cadillac is already a very profitable business for us today and GM expects to see substantial growth for its luxury brand over the next few years, particularly in China where young consumers are open to new brands.”
China is the world’s largest car market and it accounts for approximately 25% of global luxury car sales. Cadillac plans to launch in China soon a new full-sized sedan and a small sports utility vehicle.
AS GM China president Matt Tsien said, “China has indeed has been a very rewarding market for GM. We’ve benefited from the tremendous growth. China has taken a very big role in GM and China’s voice is a very strong voice within GM.”