June 20, 2013

American automaker GM plots Chinese expansion for Cadillac brand

General Motors (GM), a US-based automobile manufacturer, has outlined plans to increase its store count to 200 in China for its Cadillac brand by the end of 2013.

By admin-demo

General Motors (GM), a US-based automobile manufacturer, has outlined plans to increase its store count to 200 in China for its Cadillac brand by the end of 2013.

The store expansion is aimed to increase its share in China’s automobile market by four-times to 10% by the end of 2020.

GM is also looking to leverage 74% growth in sales of Cadillac in the country during May 2013, as against the previous year.

Commenting on the expansion, GM China chief Bob Socia told Reuters that the company is focusing on tier III and IV cities to further its growth besides concentrating on tier I and tier II cities.

Further, the auto retailer is looking to ramp up Cadillac’s annual sales in the country to about 100,000 cars by 2015, a growth of more than three-fold compared to 30,000 in 2012.

The automaker has launched Cadillac SRX crossover and Cadillac XTS sedan to facilitate sales growth in the country.

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GM chief executive Dan Akerson said: "We’ll bring in our high-end, premium products here, and we’re going to see how we run against our competitors in Europe and Japan."

GM brand portfolio also includes luxury brands Buick and Chevrolet in China.

The company is also planning to introduce ten new products or upgraded versions annually through 2016 in China.