General Motor Company GM It is reportedly planning to woo China’s urban rich through a new direct-to-consumer platform that will offer niche, luxury imports and experiences as the American automaker seeks to regain traction in the world’s largest auto market.
What happened: GM plans to launch a platform called Durant Guild Host invitation-only events to showcase potential products, open “experience hubs” in urban centers and potentially host pop-ups at select locations, Reuters reported citing company executives.
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Julian BlissettGM’s China boss, told Reuters: “Durant Guild is not a volume game, but if we do a good job and the products sell well, it will generate a lot of buzz around Cadillac and Chevy and contribute to how people perceive our products and.” Technology.”
Why it matters: In China sales of GM’s flagship Buick, Cadillac and Chevy Brands have declined by a third to 1.3 million cars a year over the past five years as consumers switch to domestic EVs such as XPeng Inc XPEV, Nio Inc NEVER and BYD BYDDY BYDDFreported Reuters.
“There’s a lot more appetite for taking more off-road vehicles to explore the great outdoors, and that wasn’t a trend five, 10 years ago,” Blissett was quoted as saying.
events: Durant Guild, named after the founder of GM William Durant, will be wholly owned and operated by GM. The platform will officially launch as soon as this month, according to the report, with GM hosting a number of invitation-only events.
A GM spokesman did not immediately respond to Benzinga’s request for comment.
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