GM's embattled CEO Rick Wagoner has been at the helm during some tough times. With the stock down 80% from its high, many of the stockholders and in the investment community feel its time for a shake up at the top. General Motors trusted board seems to support wagoner strongly and consistently vote to keep him pulling the strings. While this year has been a disaster on most fronts, Mr. Wagoner has been able to make one very positive contribution; with disappointing auto sales in the United States and General Motors' market share in North America and Europe falling. The strongest market for General Motors right now comes from the far east. China's emerging economy and sustained growth has its citizens experiencing a boost in income and this has opened a whole new market for GM. Hard as it maybe to believe, but Buick, is the new status symbol for wealth in China. GM has ramped up its marketing efforts in the Communist led country and currently has a 12% market share of all vehicles sold there. And that's just the beginning. GM plans to continue its quest for market domination by offering a superior product and through aggressive marketing to keep its brand on the front of Chinese Citizens minds. With more of the population experiencing a greater quality of life, that adds up to more potential sales overseas for GM. Lets just hope for GM's sake that the company did its calculations right.
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