Cadillac Planning New Models to Keep Up With China Demand
Like many luxury automakers these days, Cadillac is looking to capitalize on the perceived growing affluence of consumers in China.
To that end, GM’s luxury division plans to introduce several new models in an effort to better compete with the German triumvirate of Audi, BMW and Mercedes-Benz, which have so far, witnessed strong sales increases in recent years.
Like many automakers peddling vehicles in China, Cadillac’s goals are rather ambitious. Kevin Wale, who head’s up the brand’s operations in that country, said at a recent press conference in Shanghai, that the brand plans to boost Chinese production by some 40 percent in the next two years.
“Luxury-car sales will continue to grow faster than the overall passenger-car market, driven by increasing wealth,” said Wale. And perhaps he’s right.
According to data released from research firm LMC automotive, China is currently poised to overtake Germany as the world’s second largest market for luxury vehicles by next year.
That said, overall vehicle demand in China has been slowing in recent months November deliveries saw the smallest monthly gains in the second half of 2011, rising by just 0.3 percent over October.
[Source: Automotive News]
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