There was however one segment of the market which until now remained untouched by GM in China: the used car segment. This week, GM and SAIC announced they have established a used car joint venture, the first of its kind on the Chinese market.
"There is currently no standardised system for the sale of previously owned vehicles in China. Our new joint venture is adopting unified nationwide standards for the sale and service of used cars," Kevin Wale, GM China president and managing director told just-auto.com.
The joint venture will be setting up no less than 20 centers across China. They will all be in charge with acquiring, repairing and certifying used cars for resale. Being a pretty much untamed territory, there are no estimates on how many used cars the two partners hope to sell.
GM and SAIC are so tied together that the Chinese company was among the first to announce it might be interested in buying GM shares offered through the carmaker's initial public offering (IPO).
The two announced the launch of a joint brand, the Baojun, back in July. GM and SAIC also have a joint display at the World Expo 2010 Shanghai, where they display a wide variety of products and concepts, from vehicles to their vision of the future.
GM is currently operating no less than nine other joint ventures with its partner SAIC.