Cadillac tops 1 million sales in China

General Motors' Cadillac has become the fourth premium auto brand to sell more than 1 million vehicles in China, after German rivals Audi, BMW and Mercedes-Benz.

SAIC-GM, which is locally manufacturing Cadillac models, made the announcement when it launched the midsized CT5 sedan on Sunday in Beijing. The rear-wheel drive model boasting many of Cadillac's latest features will start to deliver later this year, according to the company.

"For 16 years, Cadillac has been committed to bringing a new experience to China's luxury car market," said Wang Yongqing, president of SAIC-GM, which introduced the brand into China in 2003.

Last year, SAIC-GM sold over 200,000 Cadillacs in China, which has been its largest market for two years in a row, followed by the United States.

In the first three quarters this year, its sales totaled 164,048, up 0.8 percent year-on-year, despite an 11.7 percent fall in the country's overall passenger car market.

He said the joint venture has invested over 30 billion yuan ($4.24 billion) in Cadillac's production and research and development facilities. It has also built a sales network of over 300 dealerships across the country.

"Our lineup has grown at a fast and steady pace, becoming popular among those who have a passion for life," Wang said.

The CT4 will be available in China early next year, joining the CT5 and CT6 in Cadillac's sedan family and the XT4, XT5, XT6 and Escalade in its SUV family.

The carmaker said as its most aggressive product campaign continues, its portfolio will cover all mainstream luxury segments by 2020.