CHINA: GM establishes uses car venture with SAIC
General Motors has established a used car joint venture with its Chinese partner SAIC to expand into a largely untapped segment of what has become the world's largest auto market.
The joint venture, which GM says is the first of its kind in China, will offer used GM brands as well as selected models from other carmakers.
The new venture will set up about 20 facilities across China within the next five years, which would acquire, repair and certify used cars for resale, GM China said.
Kevin Wale, president and managing director of GM China, said: "There is currently no standardised system for the sale of previously owned vehicles in China. Our new joint venture is adopting unified nationwide standards for the sale and service of used cars."
GM currently has nine other joint ventures with SAIC in China including Shanghai GM. The country overtook the United States last year to become the world's biggest auto market.
GM and its Chinese partners expect to sell more than 2m cars there this year after selling a record 1.83m in 2009.
Companies: General Motors Company
Sweden's National Debt Office decision concerning approval or not of Vladimir Antonov's proposal to buy Saab property in exchange for a 30% stake in the automaker is imminent. The Russian businessman'...
Electronic braking systems are rapidly gaining share in the automotive industry as automakers look to benefits of improved performance at low cost....
Saab is declining to comment on suggestions it is in discussions with Chinese automakers with an eye to taking an investment in the troubled company....
As a trend towards Chinese automakers' joint ventures with foreign automakers developing new own brands to target new markets - particularly the 'tier 3 and tier 4 inland cities - gathers pace, one of...
Pune based components joint venture Plastic Omnium Varroc is bullish about the Indian automobile market as global automakers set up more manufacturing plants in India and it plans to add just-in-time ...
Saab has estimated that, should formal approval of investment from Russian businessman Vladimir Antonov occur as early as today (20 April), production could re-start next week....
It's still boom time in China not only for vehicle makers but western component suppliers as well. TRW of the US believes its sales in the country will more than double in two years, France's Valeo al...
- THE WEEK THAT WAS - Diesel developments
- Comment - emissions 'failures' hardly a surprise
- ANALYSIS - supercharged Jaguar XF
- Federal-Mogul on trends in the plug market - Q&A
- THE WEEK THAT WAS - VW agrees a deal with the US
- JLR achieves aluminium recycling milestone
- Ford to idle top-selling truck's plant for a week
- BMW launches 'big battery' i3 EV
- BMW Q1 operating profit down 2.5%
- Mitsubishi orders plunge in crisis