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GM Wins Corporate Achievement Award


April 2006
 Filed under: GENERAL MOTORS CORPORATE Car News | GENERAL MOTORS CORPORATE Headlines

General Motors Honored for Representing China on the World Stage

April 18, 2006

Shanghai, China - General Motors has been named one of 10 multinational corporations that best represent China on the world stage in a survey sponsored by the organizing committee of the Fortune China Forum.
The survey solicited the opinions of a group of retired Chinese diplomats, highly respected economists and senior editors of Chinese media organizations.

The 10 multinational corporations as well as 10 local enterprises were chosen based on their contributions to the Chinese economy and society, good corporate citizenship, and high-quality products and services provided to local consumers. The multinational corporations were also selected for bringing the world to China and China to the world through successful cooperation and partnerships.

"We are honored to receive this prestigious award," said Kevin Wale, President and Managing Director of the General Motors China Group. "Over the years, GM in China has grown along with the nation's automotive industry. Our focus from day one has been on developing world-class products and services in China for the people of China.

"I believe all of the award winners share one thing in common," Wale noted. "We have focused on cooperation with partners to create mutual benefits and contribute to the advance of our industries and China's economy."

GM operates seven joint ventures in China with its local partner, Shanghai Automotive Industry Corp. Group (SAIC). The joint ventures are involved in the manufacture of vehicles and powertrains, automotive engineering and design, sales and marketing, and automotive financing. In 2005, GM's sales in China rose 35.2 percent on an annual basis to a record 665,390 units. GM China ended 2005 with an estimated 11.2 percent market share, up from 9.4 percent at the end of 2004.

"The combination of GM's global and local resources, the theme of this award, represents a key to our success in China," said Wale. "As we enter the next phase of our growth in China, we will maintain our commitment to meeting the needs of the market while contributing to the long-term development of China's automotive industry and economy."

General Motors Corp. (NYSE: GM), the world's largest automaker, has been the global industry sales leader for 75 years. Founded in 1908, GM today employs about 327,000 people around the world. With global headquarters in Detroit, GM manufactures its cars and trucks in 33 countries. In 2005, 9.17 million GM cars and trucks were sold globally under the following brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, HUMMER, Opel, Pontiac, Saab, Saturn and Vauxhall. GM operates one of the world's leading finance companies, GMAC Financial Services, which offers automotive, residential and commercial financing and insurance. GM's OnStar subsidiary is the industry leader in vehicle safety, security and information services. More information on GM can be found at www.gm.com.

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