GM China sales up 15% in October
In this article (5)
The automaker said its sales were up 15 percent year-over-year in October and Buick sales jumped 42 percent from a year ago. Monthly sales for the brand hit more than 100,000 for the first time.
“GM is well-positioned to capture the growth opportunities in the SUV, MPV (multi-purpose vehicles) and luxury segments, and our new products are gaining market share,” GM China President Matt Tsien said in a statement. “The recently announced government incentive for vehicle purchases helped boost buying sentiment starting in October.”
Cadillac sold an October record 5,757 luxury vehicles, up 23 percent year-over-year, while Baojun brand sales soared 113 percent to 51,589 vehicles, also a record for October. Chevrolet sales fell 8.4 percent to 51,173 vehicles, which GM blamed mostly on vehicle model changeover. Wuling brand sales also decreased 6.8 percent to 116,786 vehicles because of a decline in the mini-commercial vehicle market, GM said.
Through October, GM says its retail sales in China are up 2.9 percent year-over-year to a record nearly 2.82 million vehicles.
Questions & Answers
Q.Which specific government program helped boost GM's sales in October?
Which specific government program helped boost GM's sales in October?
The government program that aided sales cut taxes on some vehicle purchases, boosting buying sentiment from October onwards.
Q.Which of GM's brands saw a decrease in sales during October?
Which of GM's brands saw a decrease in sales during October?
Chevrolet sales fell by 8.4 percent, and Wuling brand sales decreased by 6.8 percent in October.
Q.What is GM's year-to-date sales performance in China through October?
What is GM's year-to-date sales performance in China through October?
Through October, GM's retail sales in China are up 2.9 percent year-over-year, reaching a record of nearly 2.82 million vehicles.
Q.What reason did GM provide for the decline in Chevrolet's sales in October?
What reason did GM provide for the decline in Chevrolet's sales in October?
GM attributed the decline in Chevrolet sales mostly to vehicle model changeover.
Reader pulse
Is GM's China strategy sustainable?
21,902 votes so far