General Motors wants to triple their Cadillac sales in China in 2015 after hiring a new global leader for the brand according to The Detroit Free Press.
GM would have to sell 100,000 Cadillac vehicles in China in 2015 alone to meet this goal. In 2012, the company sold 30,010 Cadillac models in China, only two more than they sold in 2011.
This past October GM CEO Dan Akerson promoted long-time employee Bob Ferguson to vice president for global Cadillac. One of his responsibilities as vice president will be to boost the brand's reputation in China, an area where the average buyer purchasing a vehicle for the first time is in their early 30's and pays with cash.
The company stated that production of the Cadillac XTS started this week at their plant in Shanghai. A plant in Oshawa, Ontario started production for the vehicle last year to be sold in North America. The new model reached showrooms in the U.S. this past summer.
"We haven't had the product we would've liked to have had," said Bob Socia, GM's China president in an interview last month according to The Detroit Free Press. "Even with the limited portfolio we have right now the dealers are willing to make the investment because they see the potential for the brand."
GM will also be introducing the compact Cadillac ATS to China within the next year or so. The company has around 150 Cadillac dealers in China after they opened 90 more last year. They've stated that 100 more will be opened in the next two years or so according to The Detroit Free Press.
While German companies like BMW, Mercedes-Benz, and Audi rule the market, Ferguson believes Chinese buyers will come to love the "American luxury" Cadillac vehicles can provide.
"I think some people intuitively felt the way to sell Cadillacs there is somehow to make Cadillac have more of a Chinese aura," said Ferguson according to The Detroit Free Press. "In fact, I think we're learning the opposite, which is that they're interested in the product because it is American luxury."
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