Boston, MA 09/05/2014 (wallstreetpr) – China remains the largest market for General Motors Company (NYSE:GM) highlighted by an increase of sales in August as demand continues grow. Bloomberg reports that the automaker sales surged by 14% in August with deliveries coming in at 280,178 units.
Improved Production Capacity
It has been a good year for General Motors in China considering it has had to deal with the recall menace back at home for the better part of the year. Its deliveries in China have already rallied by 11% for the first 8-months of the year with 2.26 million cars already delivered. Introduction of new products has allowed the company to enjoy improved sales aided by improved production capacity, which has allowed it to compete competitively against Volkswagen for market share in China.
General Motor’s increased deliveries have also been’ aided by the expansion of its manufacturing plant in Shenyang City. The plant is reportedly producing the best-selling Chevrolet Cruze Sedan having already begun the sale of a sports utility vehicle under its Buick Brand. General Motors Company (NYSE:GM) expects its production capacity to increase by 65% by 2020 in China as it continues to strive to cater for increased demand of its models.
GM to Introduce New Models
Bloomberg reports that the giant automaker plans to introduce up to 60 new refreshed models as it seeks to continue setting the pace in the auto industry. General Motors Company (NYSE:GM) has already posted a 3.4% increase in deliveries for its Buick vehicles with Chevrolet sales reportedly having grown by 6.8%.
General Motors Company (NYSE:GM) is currently trying to expand is high margin Cadillac models to lessen dependency on the sale of large trucks. The move is’ aimed at ensuring the automaker remains strategically positioned to compete against Audi, BMW and Mercedes-Benz. The automaker believes there is tremendous growth in the luxury car segments, which it would wish to tap into with success.
