Back in 1997, who would have thought China would become a dominant auto market. Today, the country accounts for one-third of General Motors’ global sales.
GM established its presence 20 years ago through its joint venture with SAIC and the Pan Asia Technical Automotive Center (PATAC). Both companies celebrated two decades of enormous growth.
“SAIC-GM and PATAC have become industry leaders in manufacturing, sales, engineering and design, helping make highly appealing cars for Chinese consumers,” said GM Executive Vice President and GM China President Matt Tsien. “These partnerships have also helped spur the growth of China’s automotive industry.”
As of 2016, China is Buick’s largest market—it’s Cadillac’s second largest, though, that changed earlier this year. China has been General Motors’ largest market since 2012 and has sold over 14 million vehicles since 1998.
Looking ahead to the future, SAIC-GM has ambitious goals for new energy vehicle. GM is targeting 150,000 new energy vehicles by 2020 and 500,000 units by 2025 under the Buick, Cadillac and Chevrolet brands.