General Motors Aims New Chevrolet Models at China
October 19 2016 - 3:10AM
Dow Jones News
SHANGHAI-- General Motors Co. plans to introduce more than 20
all-new or refreshed Chevrolet models in the next five years in
China, where the brand has seen market share eroded by fierce
competition.
Nearly a third of the models will be sport-utility-vehicles and
nearly half will be new nameplates for the China portfolio, GM said
in a statement Wednesday.
Chevrolet, which counts China as its second-largest market
behind the U.S., has seen its market share decline in China amid
competition from other mass-market foreign marques such as
Volkswagen AG and Toyota Motor Corp.
Meanwhile, China's homegrown brands are closing the gap with
their foreign rivals in terms of quality and design at lower
prices.
Chevrolet sales were down 31% in the first half of this year
from a year earlier, according to the China Passenger Car
Association. While its sales have recovered in recent months,
demand remains lackluster, said analysts.
In September, Chevrolet deliveries grew 2.6% year-over-year,
said GM, compared with a nearly 30% rise in China's overall car
industry.
The new models will include the Malibu XL, Chevrolet's new
flagship sedan in China, an all-new Cruze, a Cavalier compact
midsize family sedan, and the sixth-generation Camaro sports car,
said the statement. They will feature technologies such as
small-displacement turbocharged engines, diesel engines, as well as
hybrid and plug-in hybrid electric technology, the statement
said.
--Rose Yu
(END) Dow Jones Newswires
October 19, 2016 02:55 ET (06:55 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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