Locally made Cadillac to hit the roads
2/3/2004 15:50
Shanghai-produced Cadillacs will be unveiled in the second half of
this year, today's Shanghai Morning Post reported.
Citing Liu Yuehai,
executive supervisor of Shanghai General Motors Corp's marketing and sales
division, the report said the company, a local joint venture of US-based General
Motors Corp., signed an agreement last November to import US$400 million in
automobile parts from GM to make Cadillac CTS and SRX vehicles.
Prices of the
two locally produced luxury sedans have not been revealed, but industry analysts
expect they could be 15 percent cheaper than imports, which sell for around
550,000 yuan (US$66,505) in China.
Jane Chen/ Shanghai Daily news
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