As GM Authority has been closely following, General Motors has been losing market share in China over the course of the past several years. That being said, GM President Mark Reuss believes that the Detroit-based automaker has the ability to regain lost Chinese market share.
According to a report from CNBC, Reuss stated that The General’s fresh all-electric vehicle lineup and new plug-in hybrid (PHEV) offerings, as well as the Buick brand’s makeover, can all serve as catalysts to reverse GM’s sagging Chinese sales figures.
“You can look at it any way you want from a larger geopolitical standpoint, but for us in China, this has been a great advantage for us to be partnered so deeply for so many years with our JV partners there,” GM President Reuss explained. “We have an advantage there with Buick and Wuling, and it goes both ways.”
GM CEO Mary Barra also mentioned that “nothing is off the table in ensuring that GM has a strong future to generate the right profitability and the right return for our investors.”
It’s worth noting that GM’s Chinese market share fell from 15 percent in 2015 to 8.6 percent in 2023, which is the first time it has dipped below the nine-percent mark since 2003. Beyond that, General Motors’ earnings in the region have also fallen, down nearly 79 percent since peaking in 2014. Interestingly, it appears as though this decline in Chinese market share can be attributed to growing competition from government-backed domestic automakers.
So, what of these EVs and PHEVs Reuss spoke of? Well, there’s been a flurry of activity as of late, including the launch of the Buick GL8 PHEV, Chevy Equinox Plus PHEV, and Cadillac Optiq, along with the debut of the all-electric Chevy Equinox EV. Outside of these notable events, the Buick Electra E4 lineup recently received a price cut, so it certainly appears as though General Motors is hard at work in staying competitive in the Asian market.
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Anyone else think that logo looks like GM being flushed down a toilet? Asking both literally and metaphorically here.
I can't unsee that now. LOL. Quite an appropriate visualization for how SAIC must be viewing GM at this point from behind the door.
Just like gm has regained market share in the U.S.?
Not worried about the U.S as they don’t have to worry about too much competition. Plus they just can survive here shut down the auto lines that are not selling and keep the ones making money!! Then they invest the money into the stock to make the price rise making the illusion the stock price is on the rise.
Keep it up GM. You literally have forgotten about the people that first made GM successful when it first started and it wasn’t China! You release more vehicles there, your new vehicles are released first there, they are less expensive there and you’re more worried about your presence there. Then maybe Chinese auto makers should be allowed here! Oh wait they can’t because that would not be fair! You jack the car prices up here in the States and expect us to pay them while your salaries are out of control! Go kiss some butt and release more new cars in China and maybe charge more or stop giving lifetime warranties!! Wait how can you do that do your vehicles last longer there with no recalls or issues? Ridiculous!
My, my, Generous Motors has forgotten its roots. Their stock says it all.
This is happening in many companies across many industries. It's almost like Blackrock, Vanguard, and State Street have asked these companies to make self inflicted wounds to prove their loyalty to them.
Yet interestingly, Blackrock, Vanguard, and Berkshire Hathaway own significant shares in BYD.
Good luck, they're done with you. They've milked you for all your engineering knowledge and now they have shifted focus to their home grown brands. It's simply mind-blowing that companies like GM gambled on this market and thought they would be allowed to remain on top. Once they learned to build competitive cars and the people driven by nationalism have started switching over to their home grown brands, they will now kick western companies to the curb. So, as always, my suggestion, stop taking that market for granted, make your vehicles more competitive like (Hyundai, Toyota, and VW) and diversify globally. Try to regain that China market share if you think you can but don't bet on it.
And they have done just that.. Milked them for Technology. I watched it from the begining. My own manger, An airhead and politician, even gave them the access to the website where substantial informaition was stored They need a shake up at the Top level and Middle levels of GM Management. The best manager I ever saw actually was hired away from Toyota and was no nonsense. --But they showed him the door quickly, just as they did years ago with Ross Perot when he showed his disgust with Roger Smith's GM. Where is John Smale the guy that shook up the board of directors at GM in early 1990s or someone with his caliber?
As a general motors purchaser for over 50 years and suddenly lost conference and everything. My husband passed away about a year ago so for my final purchase, I paid $50,000 cash for a Cadillac XT 50 miles. I drove it for 90 miles and the transmission blew up. I had the car six days. They’ve had it almost 10 and still not even working to correct it. I just want somebody to say. I’ll take it back. I’ll buy a whole different brand new one, but how am I ever going to resell it if it didn’t even have a good engine to start
Just to correct my own comment it was a Cadillac XT5 2024 and I meant my first purchase on my own $50,000 cash and I don’t have a car at the McDonald Cadillac dealership in Saginaw. Michigan keeps telling me it’s a process that General Motors makes them follow to determine what to do with the car
Lorraine, check the lemon law
China won’t let them regain market share. The CCP would loose money if they did. Cut china off. Focus on other countries, like Korea and South American nations.
iF HE IS ALSO BEHIND THE DECISIONS THAT ARS SCREWING THE AMERICANS TO PLEASE THE CHINESE ,,,GET RID OF HIM ALSO!!!!