While GM's North American operation has been hemorrhaging money like a hemophiliac having heart surgery, its overseas operations have managed to turn enough profit to keep them from the bankruptcy court. Chinese sales are still growing, but the boom may go bust. In 2007, sales increased 19 percent. So far this year, sales are up 14 percent. Although China's still the world's fastest-growing auto market, raw material costs are soaring, and The People's Republic is easing off fuel price subsidies. Through their "joint venture" (i.e. shotgun wedding) with Shanghai Automotive Industry Corporation (SAIC), GM is the Republic's largest carmaker. But they're beginning to face stiff[er] competition from Toyota and Volkswagen. Joseph Lau, vice president for GM China, told Bloomberg "Shanghai GM has been facing difficulties by relying on existing models to compete with rivals that have added new ones." Sound familiar? Lau added that GM/SAIC has only one new model in the pipeline for this year: a locally-made hybrid version of the Buick LaCrosse. They're adding one new model next year, a Buick sedan to compete with the rapidly-growing Camry and Corolla. Does anyone know the Chinese translation for "Those who do not learn from history are doomed to repeat it"?
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a locally-made hybrid version of the Buick LaCrosse
Wait so the Chinese get the first GM produced hybrid CAR, or is this one of those mild hybrid turds. And the Buick actually looks nice compared to the ones they sell here. When they could use a good hybrid to sell here they sell it in China first. I’m stating to think their plan is to go bankrupt.
I agree. When I look at GM’s world cars I am convinced they know how to build desirable cars but what they typically sell here is just meh, blah, ehh – average – with a few exceptions. Unfortunately that they build best here is Corvette and SUVs/trucks. Won’t buy any of those so I don’t care.
I agree, it surely looks like they are trying to go broke in the USA. Maybe shed some USA and dealer contracts.
Redbarchetta
Wait so the Chinese get the first GM produced hybrid CAR, or is this one of those mild hybrid turds.
Belt-drive mild hybrid.
Belt-drive mild hybrid. Figures, I still don’t get how they can be riding on the hybrid bandwagon with that. It’s just an engine shut-off, something all cars should have started having 20 years ago.
“Mild hybrid.”
Maybe because it’s NOT a full hybrid?
Is this so hard to believe?
Try shutting off your engine in the Drive-in lane at McDonalds. You’ll reduce pollution by a ton and save fuel.
Savvy?
Does anyone know the Chinese translation for “Those who do not learn from history are doomed to repeat it”?
不从历史学会的那些人被注定重覆它。(simplified Chinese).
不从历史学会的那些人被注定重覆它。(simplified Chinese).
or are doomed to ponder simplified chinese characters