GM China’s sales are on a tear because of small mini buses made by SAIC-GM-Wuling. The venture, in which GM owns 34 percent, sold 87,925 of the small, rugged utes in July alone, up 90.7 percent from a year earlier. They are mostly being snapped up by farmers, helped by Beijing’s stimulus initiatives. Now, GM injects additional steroids: Exports of the Made in China vehicles.
The Wuling N200 series and N300 series vehicles will be shipped under the Chevrolet brand to emerging markets in South America, the Middle East and North Africa. They will be sold through GM’s distribution networks, Reuters reports.
GM is desperately trying to up their 34 percent share of SAIC-GM-Wuling.
Chinese media report that GM had secured an initial deal to take over Liuzhou Wuling Auto’s 15.9 percent stake for roughly 300 million yuan ($43.90 million). GM’s spokeswoman in China said she knew of no no agreement.