GM China sales plummet by 50%? The truth behind layoff reform...

【ITBEAR】According to the latest reports, General Motors plans to launch a series of layoffs and reform measures in the Chinese market, aiming to reposition its strategic position in the world's largest auto market. Faced with the continued decline in sales of SAIC-GM in recent years, General Motors has realized that the possibility of returning to the sales peak in 2017 is slim. Therefore, the company's senior management decided to meet with SAIC to discuss a larger-scale structural reform plan for the Chinese market business. According to ITBEAR, General Motors is starting to lay off employees in departments related to the Chinese market. This move has even affected the core R&D department. In addition, in the next few weeks, General Motors will have in-depth discussions with SAIC Motor on the production capacity reduction plan. The restructuring plan will cover the transformation of electric vehicles, the focused development of high-end electric vehicles and imported car businesses. Affected by the rise of domestic brand models, SAIC-GM's sales have been declining for many years. Specifically, in July this year, SAIC-GM Group's sales were only 15,000 vehicles, a sharp drop of 82.4% year-on-year. From the beginning of this year to July, SAIC-GM's cumulative sales dropped sharply by 55.14% year-on-year.

Buick brand sale rumors

1. Current status of Buick brand

• The US and European markets are close to discontinuation
• China is the largest consumer market

2. Market competition landscape

• Kaidi Lac , Lincoln and other brands’ price reduction strategies have squeezed Buick’s market space
• The Buick brand focuses on low- and mid-range models and has limited contribution to corporate profits

3. SAIC Group’s response

• has not made a formal response

4. Follow-up progress

• will continue to pay attention to the progress of this matter.

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