Cadillac to open 40 new stories in China to challenge Audi
Dan Akerson is championing a worldwide expansion of the Cadillac brand as part of efforts to raise profit margins and to hedge against the risk of declining sales of high-profit trucks. The automaker has said it plans to add a new Cadillac model annually in China through 2016.
"We've struggled in the past, there's been a new commitment so to speak, from General Motors about what we want to do with the Cadillac brand," Socia, 58, said in an interview at GM's offices in Shanghai. "It's a journey, you're not going to do this in a year or two, but you've got to come up with product that unequivocally can compete."
GM is committed to market Cadillac in China, he said, declining to give specific spending or sales targets. Robert Ferguson, the GM executive leading the Cadillac brand globally, has visited dealers in China, Socia said.
Cadillac sales
The automaker sold 27,073 Cadillacs in China in the first 11 months, compared with 370,559 units for industry leader Audi. In the same period, BMW sold 295,974 vehicles while Daimler AG's Mercedes-Benz delivered 177,301 units.
GM will also focus on the sport utility vehicle market next year, Socia said. The Buick Encore crossover introduced in October will be one of the key products for the automaker in the segment, he said.
SUVs are the fastest-growing segment in China this year. In the first 11 months, deliveries climbed 26 percent to 1.8 million units, outpacing the 7 percent gain to 14 million for total passenger vehicle sales, according to the China Association of Automobile Manufacturers.
China's total vehicle sales may reach 21 million units next year, representing an annual growth rate of five to eight percent, said Socia, who reiterated a goal for GM to outpace the industry.
Socia, who also oversees operations for GM in India and Southeast Asia, said the automaker will probably sell 75,000 units in Thailand this year. Next year, the automaker will introduce the Chevrolet Spin in Thailand and the Chevrolet Enjoy -- a version of a top-selling Chinese minivan -- in India.
Socia was GM's vice president of global purchasing before he took over the China portfolio on Oct. 1 from Kevin Wale, who retired.
GM is committed to market Cadillac in China, he said, declining to give specific spending or sales targets. Robert Ferguson, the GM executive leading the Cadillac brand globally, has visited dealers in China, Socia said.
Cadillac sales
The automaker sold 27,073 Cadillacs in China in the first 11 months, compared with 370,559 units for industry leader Audi. In the same period, BMW sold 295,974 vehicles while Daimler AG's Mercedes-Benz delivered 177,301 units.
GM will also focus on the sport utility vehicle market next year, Socia said. The Buick Encore crossover introduced in October will be one of the key products for the automaker in the segment, he said.
SUVs are the fastest-growing segment in China this year. In the first 11 months, deliveries climbed 26 percent to 1.8 million units, outpacing the 7 percent gain to 14 million for total passenger vehicle sales, according to the China Association of Automobile Manufacturers.
China's total vehicle sales may reach 21 million units next year, representing an annual growth rate of five to eight percent, said Socia, who reiterated a goal for GM to outpace the industry.
Socia, who also oversees operations for GM in India and Southeast Asia, said the automaker will probably sell 75,000 units in Thailand this year. Next year, the automaker will introduce the Chevrolet Spin in Thailand and the Chevrolet Enjoy -- a version of a top-selling Chinese minivan -- in India.
Socia was GM's vice president of global purchasing before he took over the China portfolio on Oct. 1 from Kevin Wale, who retired.
