Today, on the eve of the Shanghai motor show, General Motors revealed its five-year strategic plan. The highlight of the announcement comes with a goal of doubling its Chinese sales to 5 million units annually by 2015.
"We've set aggressive goals with our five-year plan. We are confident that we will achieve every one of our goals," said GM's China group president, Kevin Wale.
Although it may sound optimistic, GM already performed a similar feat with the doubling of its sales over just the past two years. In 2010 it delivered some 2.35 million vehicles, more than twice what it sold in 2008. Last year along, the Chinese car market grew more than 30 percent, but that pace is expected to slow to around 10 - 15 percent this year according to the automaker. The sales goal will rely heavily on Chevrolet, which accounts for 35 percent of the automaker's international sales.
Helping it to achieve the sales target, GM announced its intention to roll out some 60 new and updated models in China in the coming years - roughly one every month. Under the plan, 12 of the new models would wear Buick badges, while 15 are slated to be Chevrolets. The automaker also plans to launch its new Baojun brand in the near future. Further plans include a next-generation electric vehicle for the Chinese market built in conjunction with SAIC, its local partner.
Is GM's goal to sell 5 million units annually in China attainable or too optimistic? Share your opinions in the comments section below.
Source: Automotive News