GM to launch 15 models in China this year

Updated 2018-01-31 10:40:04

The brand new Chevrolet SUV model from General Motors was displayed in Guangzhou Auto Show in Nov. 2017.

General Motors said it is planning to introduce 15 models into China in 2018 with its joint ventures, aiming to further boost its sales momentum in the world's largest automotive market.

About half of the upcoming models this year will be SUVs and MPVs, and its premium arm Cadillac will strengthen its portfolio as well, said the carmaker in a statement on Tuesday.

China has been the largest market for GM for the past six years and surpassed the United States as the largest market for its premium brand Cadillac last year.

In 2017, GM and its joint ventures sold 4.04 million units in China, up 4.4 percent year-on-year, coming second only to German rival Volkswagen AG, which sold 4.18 million cars in the country.

GM expects China to continue playing an important role in the company's global move towards a future of zero emissions, zero crashes and zero congestion.

"The automotive industry is transforming globally, which provides unprecedented opportunities for us to exceed with our strong understanding of consumer needs," said Matt Tsien, GM executive vice-president and president of GM China.

"We will continue to work actively with our partners in China to bring the best electrification solutions and advanced technologies to the market."

GM is planning to introduce 20 new electric cars globally by 2023 and said it expects "a substantial share" of them to be sold in China, which has been the world's largest market for such cars since 2015.

The carmaker also plans to bring its Super Cruise driving assistance system to China as part of its journey towards a future with zero crashes.

Having demonstrated its Vehicle-to-Infrastructure capability on public roads in Shanghai last year, GM is exploring new connected vehicle opportunities in the country.

Globally, GM forecasts its 2018 results to be largely in line with the expected 2017 results, benefiting mainly from continued strength in China and North America.

Earlier this month the carmaker estimated its diluted-adjusted earnings per share would reach a record to .50 for 2017.

"GM had a very good 2017 as we continued to transform our company to be more focused, resilient and profitable," GM Chairman and CEO Mary Barra said in a statement.

"We are positioned for another strong year in 2018 and an even better one in 2019," she said.

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