GM General Motors Company

SHANGHAI-- General Motors Co. plans to introduce more than 20 all-new or refreshed Chevrolet models in the next five years in China, where the brand has seen market share eroded by fierce competition.

Nearly a third of the models will be sport-utility-vehicles and nearly half will be new nameplates for the China portfolio, GM said in a statement Wednesday.

Chevrolet, which counts China as its second-largest market behind the U.S., has seen its market share decline in China amid competition from other mass-market foreign marques such as Volkswagen AG and Toyota Motor Corp.

Meanwhile, China's homegrown brands are closing the gap with their foreign rivals in terms of quality and design at lower prices.

Chevrolet sales were down 31% in the first half of this year from a year earlier, according to the China Passenger Car Association. While its sales have recovered in recent months, demand remains lackluster, said analysts.

In September, Chevrolet deliveries grew 2.6% year-over-year, said GM, compared with a nearly 30% rise in China's overall car industry.

The new models will include the Malibu XL, Chevrolet's new flagship sedan in China, an all-new Cruze, a Cavalier compact midsize family sedan, and the sixth-generation Camaro sports car, said the statement. They will feature technologies such as small-displacement turbocharged engines, diesel engines, as well as hybrid and plug-in hybrid electric technology, the statement said.

--Rose Yu

(END) Dow Jones Newswires

October 19, 2016 02:55 ET (06:55 GMT)

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