General Motors in China Responses, Challenges, and Developments

TapTechNews August 14th news, according to Interface News, in response to the news that General Motors will reduce staff and production in China and carry out a large-scale structural reform, General Motors China responded.

Relevant personnel from General Motors China said that the relevant information was mentioned in the second-quarter earnings report. The Chinese market will continue to face challenges brought by changes in the industry competition pattern, overcapacity, and aggressive pricing. General Motors is working closely with its joint venture partners to restructure the business to achieve profitability and sustainable development. General Motors has taken a series of important measures, including reducing inventory, producing on demand, protecting the pricing system and reducing fixed costs.

Today, the General Motors China side said that General Motors' partnership with SAIC Motor and its commitment to promoting the long-term development of the joint venture have not changed. General Motors will continue to provide products and technologies to Chinese consumers and make product plans for the future.

According to TapTechNews' previous report, SAIC Motor's production and sales express in July 2024 showed that the July sales of SAIC General Motors Co., Ltd. was 15,000 units, a significant decrease of 82.42% year-on-year, and the cumulative sales in the first 7 months of this year decreased by 55.14% year-on-year.

In addition, the July sales of SAIC-GM-Wuling Automobile Co., Ltd. also decreased by 31.72% year-on-year.

On August 9th, SAIC General Motors announced a senior personnel change. Lu Xiao, the former executive deputy general manager of Pan Asia Technical Automotive Center, replaced Zhuang Jingxiong to serve as the general manager of SAIC General Motors.