FILE PHOTO: General Motors sign is seen at the third China International Import Expo in Shanghai, China November 5, 2020. REUTERS/Aly Song
GM, China’s second biggest foreign automaker, delivered 2.9 million vehicles in the country last year, the company said on Wednesday, for a third straight decline in annual sales. GM has a Shanghai-based joint venture with SAIC Motor Corp, in which the Buick, Chevrolet and Cadillac vehicle brands are made. It also has another Liuzhou-based venture, with SAIC and Guangxi Automobile Group, in which they make no-frills minivans and have started to make higher-end cars.
Because all the Chinese buying Teslas
GM exited all emerging markets to focus all their energy on the China Market. What's gonna happen if this continues for another 2/3 years?
Honestly, it has nothing to do with the pandemic as all the auto makers are in the same situation. Ture reason is that GM can’t defeat the local competitors and those from Japan and Europe.
The pandemic has been going on for 3 years? Wou! Warn.