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Image credits: Buick
General Motors said Monday that it was planning to sell cars made by its Australian affiliate, Holden, in China next year, bringing another of its marks to the world's third-largest vehicle market.
Shanghai General Motors, a venture of General Motors and China's largest carmaker, Shanghai Automotive Industry, will unveil their new model on Friday in Beijing, the venture's Shanghai-based spokeswoman, Joan Ren, said.
The new model, called the Buick Royaum, is based on Holden's Statesman and Caprice models. It will be a rear-wheel-drive vehicle powered by either a 2.8-liter or a 3.6-liter V6 engine. It is expected to be priced at less than 400,000 yuan, or $48,326, and will compete with Audi's A6 models, company officials said.
'General Motors doesn't have enough high-end luxury models in China and the new model will fill in the blanks,' said Zhang Xin, an analyst at Guotai Junan Securities in Beijing.
'The Statesman is attractive for consumers who prefer designs that are understated and conservative, instead of fashionable ones that show off their fortunes.'
General Motors, which invests in Asia-Pacific carmakers from Australia to South Korea and Japan, is selling models made by its affiliates in China under its own logo and marks.
By repackaging cars made by Holden and GM-Daewoo Auto & Technology, General Motors can introduce new models faster in China and enhance its own brands, helping it compete with Toyota Motor, Honda Motor and Volkswagen.
The Buick Royaum is expected to go on sale in the first quarter of 2005.Source - Buick / Bloomberg News
Shanghai General Motors, a venture of General Motors and China's largest carmaker, Shanghai Automotive Industry, will unveil their new model on Friday in Beijing, the venture's Shanghai-based spokeswoman, Joan Ren, said.
The new model, called the Buick Royaum, is based on Holden's Statesman and Caprice models. It will be a rear-wheel-drive vehicle powered by either a 2.8-liter or a 3.6-liter V6 engine. It is expected to be priced at less than 400,000 yuan, or $48,326, and will compete with Audi's A6 models, company officials said.
'General Motors doesn't have enough high-end luxury models in China and the new model will fill in the blanks,' said Zhang Xin, an analyst at Guotai Junan Securities in Beijing.
'The Statesman is attractive for consumers who prefer designs that are understated and conservative, instead of fashionable ones that show off their fortunes.'
General Motors, which invests in Asia-Pacific carmakers from Australia to South Korea and Japan, is selling models made by its affiliates in China under its own logo and marks.
By repackaging cars made by Holden and GM-Daewoo Auto & Technology, General Motors can introduce new models faster in China and enhance its own brands, helping it compete with Toyota Motor, Honda Motor and Volkswagen.
The Buick Royaum is expected to go on sale in the first quarter of 2005.Source - Buick / Bloomberg News
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