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Mumbai:
General Motors Corp. and its Shanghai General Motors joint venture today signed
a multi-year agreement worth more than $800 million to export US-built Buick Enclave
premium crossover sport utility vehicles along with other vehicles and components
to China beginning in 2008. The
agreement was signed in the presence of China''s assistant vice minister of commerce
Chen Jian, Chinese embassy officials, US assistant secretary of commerce Israel
Hernandez, GM vice president of Global Sales, Service and Marketing Operations
John Middlebrook, and Shanghai GM executive vice president Robert Socia. The
all-new Buick Enclave is built at GM''s Lansing Delta Township assembly plant in
Lansing, Michigan. Enclave is one of GM''s most sought-after vehicles in North
America because of its stylish, modern design and high level of standard features.
Introduced earlier this year, the Enclave has received enthusiastic reviews and
has helped lead General Motors'' recent sales increase in its home market. According
to Shanghai GM president Ding Lei, "Shanghai GM has become a leader in the
production and sale of passenger cars in China, driven largely by the success
of the Buick brand. These new Buick premium sport utility vehicles will strengthen
our lineup and enable us to continue to meet the changing needs of our growing
base of customers." The
Buick agreement is the second of two China export agreements signed by GM this
year. In May, GM signed a deal to export $700 million worth of Cadillacs and automotive
components to China from the United States. GM''s China operations have already
imported about $3.5 billion worth of vehicles, components, equipment, and machinery
from North America over the past 10 years. "We
appreciate the support that we received from the Chinese and the US governments
for this programme, which will benefit both countries," said Kevin Wale,
president and managing director, GM China group. "It will take the value
of GM sourcing contracts from the United States for the China market to more than
$1.5 billion this year." Assistant
vice minister of commerce Chen Jian added, "The efforts of General Motors
and its Chinese partner, Shanghai Automotive Industry Corp. Group (SAIC), to promote
healthy and stable Sino-US trade relations is very much appreciated. The Chinese
government will continue to work with the US government and enterprises to create
a better market environment, ensure a smooth channel for US companies'''' business
development and actively promote American exports to China for more balanced trade." Enclave
will be imported by Shanghai GM and sold through its network of nearly 400 Buick
dealerships across China. The new model will complement the rest of Shanghai GM''s
popular Buick line-up, which includes the Park Avenue and LaCrosse premium sedans,
Regal upper-medium sedan, Excelle family, and GL8 and FirstLand executive wagons. GM
operates seven joint ventures and two wholly owned foreign enterprises and has
more than 20,000 employees in China. GM, along with its joint ventures, offers
the broadest line-up of vehicles and brands among automakers in China. Products
are sold under the Buick, Cadillac, Chevrolet, Opel, Saab and Wuling nameplates.
In 2006, sales of vehicles by GM and its joint ventures rose 31.8 percent on an
annual basis to a record 876,747 units. General
Motors Corp.the world''s largest automaker, has been the annual global industry
sales leader for 76 years. Founded in 1908, GM today employs about 280,000 people
around the world. With global headquarters in Detroit, GM manufactures its cars
and trucks in 35 countries. In
2006, nearly 9.1 million GM cars and trucks were sold globally under the following
brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, HUMMER, Opel, Pontiac,
Saab, Saturn and Vauxhall. GM''s OnStar subsidiary is the industry leader in vehicle
safety, security and information services.
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