• Dec 22nd 2007 at 4:59PM
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GM is in a market share dogfight here in the States, but in emerging markets like China, the General is quickly gaining a strong foothold. Rick Wagoner and company are progressing so splendidly in the world's fastest-growing market that the automaker became the first manufacturer to sell one million units within a calender year. That millionth vehicle was a Buick Park Avenue, which is fitting since Buick is hugely popular in the land of the Great Wall. The speed with which the General attained this level of success is impressive as well, as GM sold 100,000 units five years earlier.

With a population of 1.6 billion and an insatiable appetite for automobiles, China seems like as good a place as any for GM to increase its global automotive presence. With more and more automakers turning their attention (and funding) to China, however, GM's exponential growth since 2002 will likely begin to stabilize. For now, however, China is to GM what the US was back in the 60s and 70s.

[Source: GM]

General Motors Achieves New Milestone in China
First Global Automaker to Sell 1 Million Vehicles in Single Year

Shanghai – General Motors became the first global automaker to sell 1 million vehicles in China in a single year today when GM China Group President and Managing Director Kevin Wale handed the keys to a Buick Park Avenue to Mr. Zhang Jianping at Shanghai GM's corporate showroom in Shanghai.

"Becoming the first global manufacturer to sell 1 million vehicles in China is a demonstration of the strength of our product, our people and our partnerships," said GM Chairman and CEO Rick Wagoner. "China is a very important market, and we're extremely proud of the contribution we have been able to make to the growth and development of its automotive industry. It's been an extremely beneficial relationship for both sides."

GM sales in China first surpassed 100,000 units annually back in 2002. Since then, GM sales have enjoyed steady growth, topping 500,000 annual sales in 2005, thanks to its growing lineup of brands and vehicles. The milestone million mark featured GM's best-known and strongest brand in China, Buick.

"I'm extremely honored to be the one millionth customer in 2007 for General Motors," Mr. Zhang said. "This is my second Buick and I appreciate the performance, safety and durability of Buick. In addition, I was very satisfied with the fuel economy of my first car. After comparing other products in the premium segment for my next car, it made perfect sense to choose the Park Avenue."

"From day one, GM and our partners have been committed to continually rolling out new and upgraded models, with specific engineering done in China for China to satisfy the needs of Chinese vehicle buyers across the country," Wagoner added.

This year, GM and its joint venture partners have begun offering several new products, including the Cadillac SLS luxury business sedan, Buick Park Avenue premium sedan, Chevrolet Captiva SUV, all-new Chevrolet Epica intermediate sedan and Wuling Hong Tu minivan.

According to Wagoner, reaching the new sales mark in 2007 is especially significant as it is taking place in a year in which GM has celebrated several milestones in China. Both Shanghai GM, the automaker's flagship manufacturing joint venture, and the Pan Asia Technical Automotive Center (PATAC), GM's engineering and design joint venture with Shanghai Automotive Industry Corporation (SAIC), marked their 10th anniversaries earlier this year. SAIC-GM-Wuling, GM's mini-vehicle joint venture, also celebrated its fifth anniversary.

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    • 1 Second Ago
      • 7 Years Ago
      The "Buick Park Avenue" is the Holden Statesman that has been refitted in China. One of Holden's major export markets.
      • 7 Years Ago
      GM has turned the corner and the results will becoming through in 2008.

      Er, What planet are you living on?
        • 7 Years Ago
        The nearly $39 billion in deferred tax assets was meant to serve as losses for tax purposes, to be used to offset profits that GM now says are unlikely to materialize. In short: GM bet wrong. Without the expected profits, the stockpiled deferred tax assets were worthless. If GM's profit picture turns around, some of the deferred tax assets could be brought back into play

        • 7 Years Ago
        You can be a pessimist and I'll be the optimist. GM is on the right path with its product offensive around the world. It is too bad the US economy will pull all of the automakers down in 2008 including Toyota and Honda.
      • 7 Years Ago
      I can't wait for more GM . They are the best..!
      • 7 Years Ago
      Build a Buick that nice looking for USA and GM wouldn't be in the hole they are in.
        • 7 Years Ago
        That wouldn't be too hard I guess. It's just a rebadged Holden Statesman. If they can sell the commodore in the states then they could sell this and if it was sold as a Buick they wouldn't have to Pontiac the front end.
      • 7 Years Ago
      GM's smart working on the market in China. China's population is over four times that of the US and still growing fast. There's the potential to sell a lot of cars of there.
      • 7 Years Ago
      Sit tight eveyone , with every auto makers wanting million sales in China, prepare to see $200 oil.
      • 7 Years Ago
      I'm 38 years old and I can't believe I am actually thinking about buying a Lucerne CXS. Because of heir heavy depreciation, you can buy a slightly used Lucerne for almost 1/2 of the MSRP. I have three kids all in car seats and I need somehting with a huge backseat. It's seems to me to be a good used car value. Sad but true, so many people in my peer group will look at disbelievingly and say "you got a Buick?"
      • 7 Years Ago

      Heard the same doom and gloom here a year and 1/2 ago, GM doomed! Last time I looked they are still the number one auto manufacturer in the world.

      Most of those posters are no longer here, GM still is.
        • 7 Years Ago
        Of course the posters don't employ 90,000 people and carry billions in debt. A lot is a stake here and I wish GM was doing better but the facts are the facts. This is going to be bad for everyone unfortunately.
      • 7 Years Ago

      Many of the Buicks sold there are different from the American ones. In fact some are rebadged Daewoos and Opels. For example the Opel Corsa is sold as the Buick Sail there.
      • 7 Years Ago
      They did not lose 40 Billion in cash, it was an accounting adjustment.
      • 7 Years Ago
      What he said, it was offered up to the dealers, but they were afraid of the loss of sales from the Lucerne, which is still pretty much the only "traditional" Buick left. They were afraid of consumer-base alienation.
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