Century-old American multinational, General Motors, announced its plans to introduce a record 20+ new and refreshed models in China in 2019, in an effort to maintain its growth momentum in the world’s largest vehicle market and to tap emerging opportunities in new energy vehicles (NEVs).
According to the company, nearly half of the models that are planned for introduction in 2019 will bear new nameplates for GM’s China portfolio, developed by leveraging GM’s global expertise and vehicle design and engineering resources.
China has been the largest retail sales market for GM since 2012, but the recent decline in auto sales in China has become an area of concern for the US carmaker. GM delivered more than 3.64 million vehicles to China in 2018, a drop of about 10% from 2017's level.
Looking ahead, the introduction of new technology along with a brand upgrade are in-line with the company’s strategy to further strengthen its presence in China by sustaining growth and meeting diverse demand nationwide.
According to GM China VP Matt Tsien, China’s vehicle market has entered a new era of high-quality development, in which product and service excellence will be the key to sustained growth. He also added that GM will continue to augment its product mix, backed by its industry-leading technologies and adjacent services, and to explore more opportunities in electrification and autonomous driving in China to drive growth.