Increasing competition in the cheap car market segment, making General Motors (GM) continues to increase car production in China cheapness. GM Wuling Automobile Company took continue to boost auto production cheapness, the Baojun which will be priced at 40,000 yuan, equivalent to USD 61.7 million. To support this production, today inaugurated GM Baojun second assembly plant in southern China, in the city of Liuzhou. Cheap cars are expected to fill the demand for the segment that has been dominated by Geely and Chery.
The opening of the cheap car market opportunities to make some manufacturers continue to deliver products that are functional cheap cars at affordable prices. It also disclosed consultancy Alix Partners in the United States, "household spending next year in China with an average annual income, which is 60,000 yuan, or USD 92.6 million or more". That way the lower segment of the market opportunities increase, especially for cars that are functional at an affordable price.
The new plant in Liuzhou, inaugurated by GM, operated under joint management of SAIC-GM-Wuling Automobile Company. Baojun second assembly plant is also able to produce 400,000 units per year.
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