On December 5th, in response to rumors in the market that General Motors plans to restructure its Chinese business, General Motors China stated that its Chinese business is a high-quality asset for both the present and future of General Motors. The cooperation and communication between General Motors and its joint venture partner SAIC Group are closer than ever to achieve profitability and sustainable development. To achieve long-term development goals, General Motors China is taking measures to reduce inventory, produce on demand, protect price systems, and lower fixed costs.
General Motors China responded by stating that in the third quarter of this year, both its sales and market share in China achieved quarter on quarter growth, with new energy vehicle sales, including pure electric and plug-in hybrid vehicles, surpassing gasoline vehicles for the first time. In November, General Motors achieved a month on month increase in sales in China for the fifth consecutive month. Since the beginning of this year, dealer inventory has decreased by over 50%.
In June of this year, General Motors China underwent a leadership change, with Steve J. Hill appointed as Senior Vice President and President of General Motors China, overseeing all business operations of General Motors in China. Prior to coming to China, He Siwen held the position of Vice President of Global Business Operations at General Motors, responsible for leading cross brand business activities.
Previously, He Siwen publicly stated that the cooperation between General Motors and SAIC has made significant progress in the aspect of "determining production based on sales", that is, determining production according to actual market demand.