Cars

More 'aggressive' investment from GM

By Li Fangfang (China Daily)
Updated: 2011-02-16 09:18

Automaker pledges to add new models to its range over two years

BEIJING - General Motors will continue "investing aggressively" in the world's biggest auto market, according to the company's top executive.

The biggest foreign automaker in China by sales volume has also promised to bring more than 20 new and upgraded models to the country in the next two years.

"As our largest market, China played a significant role in General Motors' success in 2010. We will continue investing aggressively in the country to ensure the long-term success of our company," said Dan Akerson, the US automaker's chairman on Tuesday in Beijing.

It was the first time Akerson had visited China since stepping into the position on Jan 1 after a stint as chief executive officer since September.

"General Motors' success in China is the result of our strategic approach to doing business in this country. The foundations are a great product, a consistent focus on understanding and meeting the needs of local consumers, fantastic partnerships, and a dedication to bringing the latest industry technology to China," said Akerson.

This approach, he said, has enabled General Motors to remain the sales leader among global automakers in China for six consecutive years.

In 2010, the US automaker and its joint ventures with FAW Group and SAIC Motors sold a record 2.35 million vehicles in the domestic market, which contributed almost 30 percent of the company's total sales around the world.

Although China's automobile market has cooled this year as the government withdrew its stimulus measures and started to curb car purchases in big cities, General Motors was still able to report record monthly sales in January, with 268,071 vehicles delivered to consumers, a rise of 22.3 percent year-on-year.

"General Motors will continue to make China one of our priorities," said Akerson. "We plan to introduce more than 20 new and upgraded models over the next two years, strengthen our local product development capability, expand our cooperation and sharing of technology with local partners, and lead in the introduction of new energy vehicles including the Chevrolet Volt extended-range electric vehicle."

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He also said that General Motors will increase its focus on China's luxury segment with its Cadillac series and the entry model segment with its new Baojun brand developed with in its SAIC-GM-Wuling venture.

The China Passenger Car Association said on Monday that passenger vehicles sales growth in January slowed to 15.3 percent from a year earlier, after the domestic auto sales surged 32.37 percent to 18.06 million vehicles in 2010.