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GM’s market share plummets in China

General Motors (GM), once a dominant automotive brand in China, has seen its market position erode significantly since the pandemic, as the Chinese government shifted focus to encourage electric vehicle (EV) adoption and domestic EV makers surged. GM’s market share has dwindled, leading to job cuts in China-related departments and a potential restructuring in collaboration with its local partner SAIC. The company, which once sold more cars in China than in the US and boasted a 14% market share in 2017, is now facing intense competition, with Chinese automakers producing vehicles at lower costs. GM’s focus on EVs and premium models is part of its strategy to regain footing, but the rapid rise of Chinese EV brands and increasing consumer nationalism have made it challenging for foreign brands like GM to maintain their appeal in the world's largest car market.

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