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General Motors Million Sales in China
Submitted by Rover on Sun, 12/23/2007 - 3:09am.
Since the rocketed sales began five years ago, General Motors now has become the first global automaker to sell more than one million vehicles in China market in a single year of 2007, which is the Shanghai General Motor Venture (SGM) and Pan Asia Technical Automotive Center (PATAC) 10th Anniversaries.
When General Motors edged Ford Motor more than 10 years ago to become the preferred partner of Shanghai Automotive, critics maintained that it would take decades for GM to recoup its initial $3 billion investment in the SGM and PATAC. However, the fact turns out it only took a single decade.
In fact, GM's China operations have been profitable since the early years. Sales rising rate has been express in the past five years. Back in 2002, the U.S. automaker felt fortunate to sell 100,000 vehicles in China. Since then, GM has invested another $3 billion in its China operations, including a stake in mini-vehicle manufacturer Wuling, which it operates in partnership with Shanghai Auto.
GM now assembles a broad range of vehicles in China and sells them under the Chevrolet, Buick and Cadillac brands. And China has become Buick's most important market.
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