General Motors Corporation has begun work on a new Cadillac factory in China, the world's largest auto market, its goal is the lucrative luxury car market.
The auto maker said Wednesday that it hopes will triple by 2015 to 100,000 units in Cadillac sales. It also hopes to quadruple China's luxury car market share of 10% by 2020.
Universal executives said they are optimistic about the economy, even in the luxury segment sales have slowed recently. They expect China's luxury goods market will grow by 4% this year, although this is about half of the expected rate of return in 2013 began.
General Motors Chairman and CEO Dan Akerson and other executives spoke to reporters in Shanghai before the groundbreaking. $ $ 130 million plant will be able to produce 160,000 cars a year.
 



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