The largest US automaker strives to make Cadillac the next big auto symbol in China, coming from the success of its Buick brand – which is by far a larger brand in China than at home.
In June, Chairman and CEO Dan Akerson said GM mulls China to become the world’s biggest market for premium cars by 2020, with estimated annual deliveries of as many as 3 million vehicles for all brands, out of a total of roughly 30 million.
“We have talked in length about the plans with Cadillac in China,” said GM CFO Dan Ammann. “We believe their market there is very much ready for Cadillac in a much bigger way than it’s been there on an import basis.”
GM started local manufacturing of the Cadillac XTS luxury sedan in China last fall, toghether with joint venture partner Shanghai General Motors. CEO Dan Akerson also said Cadillac wants to add a new model for local manufacture in China every year through 2016, while also achieving a 10 % share of the local luxury car market by 2020. That would equate to 300,000 units, or roughly double the volume Cadillac sold in the United States in 2012.
GM already sells a lot more Buicks in China than the United States. Buick’s success in China was among the biggest arguments for keeping the Buick brand when GM axed Pontiac, Saturn, Saab and Hummer in its 2009 bankruptcy restructuring.