By many measures, General Motors' China brand Baojun has been an exceptiona...
LIUZHOU, China/BEIJING - By many measures, General Motors’ China brand Baojun has been an exceptional success story, growing at breakneck speed by selling low-cost no-frills vehicles in smaller cities and rural areas.
The move is aimed at ensuring Baojun has offerings in the 100,000 yuan to 150,000 yuan range that holds the most potential for the brand, said Mike Devereux, executive vice president at SGMW, GM’s venture with Chinese partners SAIC Motor Corp and Guangxi Automobile Group. GM executives and analysts see Baojun’s move upmarket as a natural progression as the brand seeks to stay relevant to younger consumers.
“Younger groups have become the main force of consumer spending in our society and we need to respond to this new younger wave with brand upgrades and revamped models,” he said.Compared to 10 years ago when there few models in the mid-market price range, competition has become fierce. Popular models include Toyota Motor Corp’s Corolla and Volkswagen’s Lavida. VW’s newly launched Jetta brand, which like Baojun is a China-only brand, is expected to also be sold in the same range.
The new models will be sold in 365 new or refurbished showrooms, equivalent to 60 percent of Baojun stores across China. The brand will also strengthen its presence in bigger cities like Chengdu, Tianjin and Nanjin.
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