DETROIT: General Motors Co has spent five years re-writing its playbook for making money in Latin America and the interior of China. Now, it’s show time for the first results of a project code-named GEM, for Global Emerging Market.At events this week ahead of the Shanghai Auto Show, the No. 1 U.S. automaker plans to unveil two small SUVs that will be part of a new family of sedans and SUVs the automaker forecasts will make up one in five of its global vehicle sales by 2023.This is just the opening salvo in a nearly US$5-billion bet by GM to sell up to 2 million technology-laden, modern-looking vehicles annually to consumers who today cannot afford GM vehicles designed for the United States, but may someday as their incomes rise.GM has struggled for years to crack the code for growing profitably outside rich markets, in part because vehicles designed for the U.S. or China’s wealthy coastal cities cost too much for developing world consumers. The company has abandoned some Southeast Asian countries and pulled back from Africa because it could not compete.This time around, GM says, through disciplined cost-control it has finally found a way to make affordable vehicles in bulk… Read full this story
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