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The United States was the largest single target market for General Motors in 2023. During that fiscal year, the Detroit company and its associations sold some *** million motor vehicles to customers in China, the world’s largest automobile market. Overall, GM’s dealers, distributors, and joint ventures reported vehicle sales of some *** million units, almost *** million of which occurred in China and the United States.

 Ownership cap

China began to deregulate its automotive sector in the mid-1990s but prohibited foreign firms from owning more than ** percent of stakes in joint ventures. General Motors joined forces with Shanghai-based SAIC on June 12, 1997. The SAIC Motor Corporation, which is also involved in a partnership with Volkswagen, was the leading automobile manufacturer in China in 2021 with car sales of nearly *** million units. Currently, the SAIC-GM joint venture sells vehicles under the Buick, Chevrolet, and Cadillac brands. General Motors also sells commercial vehicles in collaboration with the Changchun-headquartered automotive manufacturing company FAW Group Corporation.