GM will revise its lineup in ChinaAugust 20, 2020
The American concern plans to introduce more high-tech and electric cars to the Chinese car market.
General Motors spoke about its plans for the Chinese car market in the coming years. It became known that the lineup of the concern’s brands in the Middle Kingdom would be significantly revised. Let’s remind that the Chinese market is the absolute leader in the world in terms of money turnover. China is also one of the key ones for GM – it accounts for 20% of the total profit of the concern.
At the same time, in recent years, General Motors has noted a significant decrease in profits in China. It is with this that the desire to update the lineup is connected. Mainly among the new products will appear completely electric cars, as well as cars with autonomous driving technology. However, GM is not going to completely withdraw from sale cars with classic internal combustion engines in China. Among brands, Cadillac should take the leading position in China.
At the end of 2019, GM was able to sell 3.1 million new cars in China.
For comparison, in 2017, the best year for itself, the sales volume amounted to 4 million units.
Earlier, General Motors summed up the financial results of the second quarter of this year. The concern ended the period from April to the end of June with a loss. It is noteworthy that in the same period of 2019, GM’s profits showed a record value.
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