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GM China Sales Top 2 Million

Despite market slowdown, maker heading for new record.

by on Oct.18, 2011

GM China President Kevin Wales.

General Motors has sold more than 2 million vehicles in China for the second year in a row – and despite the slight slowdown in the market – now the world’s largest – the U.S. maker appears set to post another yearly sales record.

The American auto giant reached the 2-million-unit-mark more than two weeks ahead of the date last year when it became the first global automaker to sell 2 million vehicles in China, GM reported

“This is another outstanding achievement for GM in the world’s largest vehicle market,” said Kevin Wale, president and managing director of the GM China Group. “Our key brands and many of our key products have continued to experience record demand despite intense competition.”

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GM’s SAIC-GM-Wuling joint venture, which is targeted at customers in smaller cities and rural China, sold its 1 millionth vehicle in China this year on Oct. 14. In addition, demand in China this year for the Buick brand has risen 24%, with Cadillac up 73% and Chevrolet posting an 18% increase.

China is now the second-largest global market for Chevrolet – which has been pressing hard to expand outside its traditional base in North and South America.  Sales surged 411% since the brand was introduced in China in 2005 – this year expecting to post another record after reaching 544,000 in 2010.


GM Exec Says Chinese Venture Will Focus on New Battery Car

China will not get access to Chevy Volt technology, insists senior executive.

by on Sep.20, 2011

GM will not provide the Chinese with the technology secrets of the Chevy Volt, a senior official insists.

General Motors’ new joint venture with its Chinese partner SAIC will focus on the development of an all-new battery-electric vehicle, a senior GM official says.

The U.S. automaker will not provide the Chinese with intellectual property for what many see as its crown jewel, the extended-range electric vehicle Chevrolet Volt, insisted Vice Chairman Steve Girsky.  But, during a media conference call hosted from Shanghai, the former Wall Street analyst acknowledged that GM will be sharing significant intellectual property with its Chinese partner.

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The deal, signed today by GM officials and their counterparts at the Shanghai Automotive Industrial Corp., is the latest in a series of partnerships between the two manufacturers.  It will take aim at what some believe could become the fastest-growing segment in the booming Chinese automotive market.


GM And Chinese Partner SAIC Will Significantly Expand Alliance

Is the deal a payback for SAIC’s investment in GM IPO?

by on Nov.03, 2010

GM and SAIC will expand cooperation on future products. They've already developed a number together, including the Buick Riviera Concept.

General Motors and its Chinese partner, SAIC Motor Corp., have announced a potentially significant expansion of their decade-old partnership, one that could reach well beyond the fast-growing Asian nation.

The non-binding agreement calls for the makers, among other things, to cooperate on the development of “new energy vehicles,” such as the Chevrolet Volt plug-in hybrid.  It also expands their joint effort to penetrate other emerging markets, such as India.

“Strategically, this is about GM getting a leg up in China without having to pay for it all on its own,” said Jim Hal, chief analyst with Detroit-based 2953 Analytics.  The deal is also about expanding access to India, “which may mimic the huge growth we’ve seen in China in recent years.

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But several observers, including sources within GM, tell that the new venture may also be a quid-pro-quo for a possible investment by SAIC in the upcoming General Motors IPO.  The maker, according to recent reports, will stage its long-awaited stock offering on November 18th, with shares to be offered at somewhere between $26 and $29. (Click Here for the full story.)

“The Chinese desperately want access to the technology we’ve been using in the Volt,” said a ranking executive involved in the U.S. maker’s electrification efforts.  “But so far, anyway, we’ve been reluctant to share it with them,” he added, requesting anonymity because of his sensitive management position.

Whether SAIC actually will invest in GM could be a potentially hot potato for a company that survived last year’s bankruptcy only with a $50 billion federal bailout, and which has become known to critics as “Government Motors.”  In light of this week’s elections, such a move by SAIC could be even more politically charged.