China is about to have its first ever Cadillac factory. Correspondent Scott Carr reports: General Motors has opened its first Cadillac factory in China to target the country’s growing but crowded luxury car market. GM says the $1.2-billion factory operated with its main Chinese partner, Shanghai Automotive Industries Corporation, will have an annual production capacity of 160,000 vehicles. Until now, Cadillacs sold in China were imported from the United States. Cadillac is a latecomer to a Chinese luxury car market that is dominated by BMW, Mercedes Benz, and Volkswagen’s Audi. China has the largest auto market for vehicles sold. Sales growth slowed last year to 7.3 percent but China still is the fastest-growing major market and global auto brands are looking to it to drive revenue.
