General Motors’ premium Cadillac brand is expecting to reach the end of the year showing a far-better-than-expected 60-percent sales growth rate in the Chinese market, driven largely by a surge in popularity among younger affluent buyers, Reuters reports. This is on top of last year’s nearly-46-percent growth rate in the Chinese market.
Cadillac was behind the curve establishing a local manufacturing presence in China, only opening its first factory there early last year, initially to build the CT6 sedan and XT5 crossover. However, the brand doesn’t carry with it the same stale, dated image in China as it does at home, allowing it to effectively market itself to a more youthful demographic.
This is proving to be quite fruitful for the GM luxury brand. In January, Cadillac said it anticipated its 2017 sales growth in China to be somewhere south of last year’s 45.9-percent rate; by May, the Asian country had surpassed the US to become Cadillac’s biggest market by volume.
To help sustain its forward momentum in the market, Cadillac plans to roughly double its retail stores in China over the next five years, from 180 to more than 300.