Chevrolet will cease sales in China.
The cars it currently makes in China will be exported to global markets (not including the U.S.).
SAIC-GM's focus in China will shift toward Buick and Cadillac, as 30 new EV and PHEV models are planned for production by 2030.
It has been widely assumed that China’s brand apocalypse is inevitable, if not overdue. The country has dozens of homegrown brands. However, it also has a sizable number of Korean, Japanese, European, and American brands that once dominated China’s sales charts. As the story goes, Chinese cars have gotten significantly better, much to the chagrin (and profitability) of the non-Chinese brands that made lots of money and sold many cars in China.
Now, many of them are struggling and failing against the onslaught of China’s homegrown brands—which themselves are struggling to become profitable—and many foreign brands are dropping out of the market. Last summer, Mitsubishi announced it was leaving China. Then, VW’s budget brand, Skoda, exited earlier this year. Now, it looks like Chevrolet is the next to leave China. The brand has been on sale in China since 2005, a whopping 21 years, amassing over 7 million customers.
