Wednesday, October 26, 2011

What's good for General Motors is good for... China?



First, myth-busting: The famous quote referenced in the headline wasn't exactly true, according to Wikipedia:

In 1953, during the confirmation hearings for President Eisenhower's Secretary of Defense nominee, GM’s CEO Charles “Engine Charlie” Wilson, he was asked if,
...as secretary of defense he could make a decision adverse to the interests of General Motors. Wilson answered affirmatively but added that he could not conceive of such a situation “because for years I thought what was good for the country was good for General Motors and vice versa.”
Despite the fact that GM only sells Chevys, Buicks and Cadillacs in China, it sells more vehicles in that country than here. Five million more, every year. In fact, with 13% of the market, GM is the #1 car maker in communism's Middle Kingdom.

The average Buick buyer in China is 30. In the US, s/he is 60.

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