Two Largest U.S. Car Manufacturers Take Aim at China
David Curry | | Mar 30, 2015 08:34 AM EDT |
(Photo : Reuters) Ford and General Motors set their sights on the Chinese automotive industry.
Leading U.S. auto makers General Motors and Ford are both preparing to invade the Chinese market after huge growth in this country by German auto firms BMW, Audi and Mercedes Benz.
General Motors is preparing to launch the Cadillac CT6 at the New York International Car Show next week. It will be available for the U.S., but GM is making sure most of the car units head over to Mainland China.
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Cadillac sold 73,000 cars in China across 2014, quite a low number compared to Audi's 600,000 and BMW's 450,000 car sales during the same time period. To boost sales, General Motors is working on more luxury vehicles and improving its marketing.
Ford is also bringing a luxury car to China in 2016, the revived Continental sedan brand. The growth in luxury cars has forced Ford to re-invest in the market following almost 30 years of downturn on luxury cars.
The U.S. automotive industry has not latched onto China as quickly as the German manufacturers. Even if U.S. carmakers rely on sales in the North American region, the Chinese region is becoming too lucrative to pass up.
Both manufacturers should announce more cars for the Chinese market in the next five years. As we move into an electric, self-driving world, the U.S. manufacturers need to keep up with the ever changing industry or risk losing prominence at home.
Tesla Motors CEO Elon Musk has already indicated most automotive companies will be gaining more sales in China than the U.S., even going as far as to say factories will start cropping up in China for more local efficiency.
TagsFord, General Motors, Detroit, Cadillac, Continental
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