GM can regain market share in China after hitting 20-year low, executive says

General Motors believes it can regain market share in China after hitting a roughly 20-year low last year, GM President Mark Reuss said Thursday.

The market declines have spurred questions around whether GM would exit China, as it has other underperforming markets in recent years.GM's market share in China, including its joint ventures, has plummeted from roughly 15% as recently as 2015 to 8.6% last year — the first time it has dropped belowReuss also touted the competitiveness of GM's Chinese joint venture partners such as Wuling Motors. GM first established operations in China in 1997.

GM's U.S.-based brands such as Buick and Chevrolet have seen Chinese sales drop more than those of its joint venture. The joint venture models accounted for about 60% of GM's 2.1 million vehicles sold last year in China.

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