GM signs $800 mn China export deal
The deal includes the Buick branded sports utility vehicle, known as the Enclave in the US, which will be imported by Shanghai GM.
By Agencies |
SHANGHAI: Tha US auto giant General Motors (GM) said on Tuesday it will boost its exports of US-made vehicles and auto parts to China by more than 800 million dollars from 2008.
The deal includes the Buick branded sports utility vehicle, known as the Enclave in the US, which will be imported by Shanghai GM, GM's joint venture with China's largest auto maker SAIC Group and sold through its network of nearly 400 Buick dealerships across China, GM said in a statement.
"These new Buick sport utility vehicles will strengthen our line-up and enable us to continue to meet the changing needs of our growing base of customers," Shanghai GM President Ding Lei said in the statement.
The Buick agreement is the second of two China export agreements signed by GM this year. In May, GM signed a deal to export 700 million dollars' worth of luxury sedan Cadillacs and auto components to China from the US.
GM and its joint ventures in China sold a record 876,747 units in 2006, up 31.8 percent from the previous year and it has an estimated 11.8 percent share in the fast-growing market, GM said in January.
The deal includes the Buick branded sports utility vehicle, known as the Enclave in the US, which will be imported by Shanghai GM, GM's joint venture with China's largest auto maker SAIC Group and sold through its network of nearly 400 Buick dealerships across China, GM said in a statement.
"These new Buick sport utility vehicles will strengthen our line-up and enable us to continue to meet the changing needs of our growing base of customers," Shanghai GM President Ding Lei said in the statement.
The Buick agreement is the second of two China export agreements signed by GM this year. In May, GM signed a deal to export 700 million dollars' worth of luxury sedan Cadillacs and auto components to China from the US.
GM and its joint ventures in China sold a record 876,747 units in 2006, up 31.8 percent from the previous year and it has an estimated 11.8 percent share in the fast-growing market, GM said in January.
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