AutoBeta(AutoBeta.net)02/16 Report--

Recently, General Motors officially released its full-year 2020 results. GM's full-year net profit attributable to shareholders in fiscal 2020 was $6.247 billion, down 5.08 per cent from a year earlier, according to the results. Operating income was $122.485 billion, down 10.75% from a year earlier, of which net profit attributable to shareholders was $2.801 billion in the fourth quarter, up 1307.33% from a year earlier. Revenue was $37.518 billion, down 21.71% from a year earlier.

According to previous reports, the Chinese market is GM's largest single market, accounting for 44% of global sales. However, although China is GM's largest single market, its sales performance has not been outstanding in recent years, especially the Chevrolet and Baojun brands. According to the data, GM's retail sales in China exceeded 2.9 million in 2020, down 6.15% from 3.09 million in 2019, and for the third year in a row.

GM owns Cadillac, Buick, Wuling, Chevrolet and Baojun, of which Cadillac, Buick and Wuling all grew, while Chevrolet and Baojun all declined. Specifically, Cadillac achieved 230000 car sales in 2020, an increase of 8.2% over the same period last year; Buick brand sales of 926300 vehicles, an increase of 6.3%; Wuling brand sales of more than 109200, up 8.8%; Chevrolet brand sales of 291000 vehicles, down 30.38%; Baojun brand sales of 402000 vehicles, down 33.89%.

In China, General Motors continues to accelerate the development and listing of new energy products. In 2020, SAIC GM successively launched Buick Micro Blue 7 pure electric SUV, Micro Blue 6 plug-in hybrid MAV, Chevrolet Patrol, Baojun E300, E300 PLUS pure electric vehicle, Wuling Hongguang MINI EV, further expanding the lineup of new energy products. In the environment where new energy vehicles are gradually becoming a consumption trend, General Motors will also accelerate the layout of electric vehicles and self-driving technology, and new energy vehicles may become the growth point of its brands in the future.

In January this year, General Motors released a new corporate brand image, showing the future direction and determination of pure electric. According to GM, the new brand logo can not only pay homage to the company's history, but also show a new direction for future development. On the one hand, through the eye-catching blue can be connected with GM's long history, while representing the image of a pure sky, showing a beautiful vision of a "zero-emission" future. On the other hand, the horizontal color gradient echoes the energy and power brought by the Ultium platform, symbolizing the full speed towards the pure electric future.

GM is working hard to build a lineup of electric cars covering all brands and market segments. According to the plan, GM will invest more in electric vehicles and self-driving, launching 30 all-electric models worldwide by the end of 2025, covering Cadillac, GMC, Buick and Chevrolet brands. Among them, new energy models will account for more than 40% of GM's new models launched in China.

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