GM China

Published on Author Mike


Here are a couple snippets from Automotive News China.

美国政府为救援通用汽车,已亏损97亿美元 — 路透社 | 2013/11/1

底特律 — 据美国特别督察长(Special Inspector General)周二提交给国会的季度报告称,美国政府在耗费近500亿美元救援通用汽车的计划上,已经亏损97亿美元。2009年,美国财政部向通用提供495亿美元贷款,换取21亿美元的优先股和60.8%的股权。

Oh, wait, that’s not about China, it’s about the US govt sales of GM stock. Instead:

GM China shines amid Asia decline Automotive News China | 2013/11/1

DETROIT — General Motors said its Chinese joint ventures earned $400 million (2.44 billion yuan) in pretax income for the third quarter, outweighing a combined loss of $100 million in the rest of Asia. Overall, GM’s International unit — which includes China and several Asian countries — recorded a quarterly pretax profit of $299 million, down 61 percent from a year earlier.

More to the point, here is further on the joint venture about which we’ve been reading:

GM says SAIC ties are strong, eyes more cooperation in Indonesia Reuters | 2013/10/29

SHANGHAI — General Motors has dismissed speculation that its ties with China’s SAIC Motor Corp. are fraying, saying the partnership is thriving and the two carmakers are discussing further collaboration in Indonesia.
“The relationship between SAIC and GM has never been better,” GM China Chairman Tim Lee said in an interview.
Within China, Lee and GM China President Bob Socia said sales by GM’s joint ventures with SAIC and others were likely to grow this year by 300,000 units to 3 million vehicles. Roughly half of the volume would come from no-frills microvans that GM produces with SAIC and another partner.

According to the two executives, GM plans to launch more new or significantly redesigned models in China next year, including a key small car update next year. It also plans to further increase exports of jointly designed and produced cars out of China. To keep up with demand, GM China and SAIC are rushing to open four plants. Two are on the country’s prosperous east coast, and another two are in China’s middle western region. These plants will add 1 million units to GM’s annual capacity by 2015.


Despite the expansion in China, some industry experts have suggested a cooling of ties between GM and SAIC elsewhere. In 2010, SAIC became a 50-50 partner in GM’s operations in India, jointly selling Wuling microvans under the Chevrolet badge….But last year, SAIC let[ting] its stake decline to 9 percent. Moreover, SAIC also announced plans to start making cars in Thailand with local firm CP Group Co., in a deal that did not involve GM….
Lee said GM and SAIC … were still in discussions over Indonesia, a key emerging market with a population of more than 240 million people.


Whatever happens outside China, Lee said GM’s alliance with SAIC remained key to GM globally … Lee said he thought it unlikely that China would abolish its long-standing policy requiring all foreign automakers to operate in a 50-50 joint venture …