General Motors Company (NYSE:GM) to expand its market in China by 2016

by Geoff Knight / 5 days ago /

The US based automaker General Motors Company (NYSE:GM) has increased its sale to 11.2% in the month of August in Chinese market, boost in the sale rate is mostly due to higher demands for its Wuling and Buick vehicles.

According to the company statement, approximately 245,799 units were sale in the month among them half were its Wuling vehicles.  As compare to 112,139 units in last month, in August Wuling sales comprise half of the total sale.

Overall in 2013 General Motors Company’s sales in China have increased 10.7%, and the company is keeping its eye on achieving its 2013 target of selling 3 million vehicles till the end of this year. The company is also strengthening its prospect in Chinese market and aiming to spend $11 billion till 2016 to build new plants and products in the country. The new facility will have capacity to manufacture five million addition vehicles for the company a year by 2015, and due to these efforts it would defend its sales lead in the country and internationally.

Buick deliveries increased 17.7% to 67,793 units in August on the popularity of its Excelle line. Many Chinese customers increased its demand to two folds for the upscale Cadillac marquee, which a record highest number of 4,396 vehicles for the SRX crossover and XTS sedan. Chevrolet sales to 50,029 vehicles and low end cost Baojun brand sold 28.8% more vehicles to 7,606 units, according to the company statement.

To expand its market in China, General Motors Company (GM) plans to launch seventeen new models in 2013, mostly of which would be luxury models and sport utility vehicles. While GM is looking forward to add nine refreshed or new SUVs model in the country over the next five years.

General Motors Company (NYSE:GM) shares advanced 0.18% to $34.14 in Tuesday’s trading session.