GM says Cadillac brand points to strong growth in China

(Reuters) - General Motors' luxury Cadillac brand is enjoying strong growth in China, the No.1 U.S. automaker said at a conference on Wednesday in New York. GM Cadillac President Steve Carlisle said that Cadillac would expand its network of dealers to 500 in China by 2025.

Reuters April 18, 2019 02:05:09 IST
GM says Cadillac brand points to strong growth in China

GM says Cadillac brand points to strong growth in China

(Reuters) - General Motors' luxury Cadillac brand is enjoying strong growth in China, the No.1 U.S. automaker said at a conference on Wednesday in New York.

GM Cadillac President Steve Carlisle said that Cadillac would expand its network of dealers to 500 in China by 2025.

The U.S. automaker will launch a new product every 6 months for the next 3 years in China, Carlisle said at a Bank of America Merrill Lynch conference.

Cadillac is expected to become the company's lead electric vehicle brand to challenge Tesla Inc.

Sales of the Cadillac brand in China rose 17.2 percent in 2018, and GM's Chief Executive Mary Barra has said that the company aims to sell 1 million electric vehicles per year by 2026, many of them in China, which has set strict production quotas on such vehicles.

(Reporting by Sanjana Shivdas in Bengaluru; Editing by James Emmanuel)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

Hong Kong marks handover anniversary as national security law takes effect
World

Hong Kong marks handover anniversary as national security law takes effect

HONG KONG (Reuters) - Hong Kong authorities threw a security blanket across the city early on Wednesday, the 23rd anniversary of the former British colony's handover to Chinese rule, hours after new national security legislation took effect in the financial hub. The contentious law will punish crimes of secession, subversion, terrorism and collusion with foreign forces with up to life in prison, heralding a more authoritarian era for China's freest city.

Kentucky Democrats pick ex-fighter pilot McGrath to challenge U.S. Senate leader McConnell
World

Kentucky Democrats pick ex-fighter pilot McGrath to challenge U.S. Senate leader McConnell

By Susan Cornwell (Reuters) - Former fighter pilot Amy McGrath said on Tuesday she was ready to take on Senate Republican Majority Leader Mitch McConnell after edging out a Black progressive to clinch the Democratic nomination for the seat.

World shares end stellar quarter but still down in 2020
Business

World shares end stellar quarter but still down in 2020

By Rodrigo Campos NEW YORK (Reuters) - A global stocks index rose on Tuesday and marked its largest quarterly gain since 2009 as investors continued to look for signs of an economic recovery while shrugging off data showing a rising number of COVID-19 cases. The possible return of Libyan oil production, which has been at a trickle since the start of the year, weighed on crude prices. World shares rose 18.7% this quarter, the biggest quarterly gain in 11 years, but are still down more than 7% so far this year due to a slump of 34% between Feb.