Home / Business / Business Highlights Tools: Save | Print | E-mail | Most Read | Comment
GM to axe Buick, SAIC may take over
Adjust font size:

In an effort to win support from the Obama Administration, General Motors will have to axe one of its brands; sources have told Shanghai Securities News.

Buick has always been the lowest selling GM brand in the U.S. and it appears that Obama's auto task force has asked GM to sacrifice it. By doing so, GM will be able to focus on its profitable brands and so recover sooner, the newspaper said.

Sources said that SAIC Group (Shanghai Automotive Industry Corp) is following the issue closely as it will affect the future of the brand in China.

"China is Buick's largest market," a source said, "it doesn't sell well in the U.S."

Statistics show that Buick sells more than 330,000 units per year in China, while sales in the U.S. are only about 185,000.

An SAIC insider said that the Group would not buy the Buick brand. However, there is a possibility that GM may transfer the right to use the Buick brand to SAIC Motors or SAIC Group. In this way, GM might still be able to receive a proportion of Buick profits in China and SAIC would be relieved from its concern for the future of the brand.

For more details, please read the full Chinese coverage at:

http://paper.cnstock.com/html/2009-04/07/content_68011641.htm

(China.org.cn by Yan Pei, April 8, 2009)

Tools: Save | Print | E-mail | Most Read Bookmark and Share
Comment
Pet Name
Anonymous
China Archives
Related >>
- GM sales plummet as Chinese consumers snub Buick brand
- GM sends Buick hybrid into the eco-auto battle
- Kenny Perry takes Buick Open

Apr. 11-12, Beijing The Fifth (2008) 'Gold Prize of Round table'of Chinese Boards of Listed Company
Apr. 17-19, Hainan The Boao Forum for Asia Annual Conference 20
Apr. 20-23, Beijing Green Transformation: Forcast New Business Culture
Apr. 27-28, Beijing China Institute Executive Summit

- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?