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Gm's sales in China rose 14 percent in November as SUV sales jumped 2.3 times
2019-12-02
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return General motors corp. 's sales in China continued to grow at a double-digit pace last month, with SUV sales still doubling, especially for the buick envision and the baojun 560, according to gm. The new compact wilang and the new yinglang achieved significant growth on a sequential basis and on a year-on-year basis, respectively.
Corporate sales: sustained double-digit growth
In November 2015, gm and its joint ventures' retail sales in China rose 14% from a year earlier to a record 346,671 vehicles. After October, gm saw another double-digit percentage increase in sales in China. In the january-november period, gm and its joint ventures' retail sales in China rose 4.1% from a year earlier to a record high of 3,166,791 vehicles, on track to top 3.5 million for the full year.
Mr Qian huikang, executive vice-president of gm global and President of gm China, said: "the market has improved in the past two months. With new models like the Chevrolet RV and buick veron coupe/veron GS, gm is well positioned for strong year-end growth."
Since 2015, foreign auto companies in China have suffered a cold snap, falling into a price cutting frenzy. This is related to factors such as slower macroeconomic development and the fact that foreign brands are not as good as their own brands in SUV segment market. Gm has also seen year-on-year declines in several months. But starting in October, as the policy winds shifted, the purchase tax on small cars with engines below 1.6 liters was cut in half, ushering in new opportunities for automakers like gm.
In suvs, gm is expanding rapidly in China. Sales of gm's suvs, driven by the buick envision and baojun 560, surged 231 per cent in November from a year earlier. Fast-growing suvs accounted for 19% of gm's sales in China, up from 6.5% a year earlier.
Brand and model sales: the three brands set new monthly sales records
According to the sales data of various brands, buick, Cadillac and baojun have all set new monthly sales records in China.
Buick remained the top-selling brand, with China sales up 45% in November from a year earlier to 107,925 vehicles. Among them, buick's new yinglang sales more than doubled year on year, and weilang sales rose 60% month-on-month to 9,619 vehicles. The wilang coupe/GS, which went on sale in November, and the wilang sedan and the new yinglang, which went on sale earlier this year, reinforce gm's compact vehicle product matrix in China.
The fastest growth was for the baojun brand, which saw sales jump 110% year on year to 58,051 vehicles. Baojun 560, baojun 730, automatic transmission models of related products will be launched next year.
The Cadillac luxury brand sold 7,935 cars in November, up 57% from a year earlier and the seventh straight month of double-digit sales growth. Among them, ATS-L sales increased by 182%. The new Cadillac ats-l28t, a sleek model with a new 8-speed manual all-in-one gearbox, went on sale on Nov. 26.
In November, Chevrolet brand sales fell 11 percent from a year earlier to 51,192 vehicles as a result of product upgrades. At the guangzhou auto show last month, Chevrolet's new urban RV officially launched, and the new flagship malibu XL made its Asian debut.
Domestic sales of the wuling brand fell 10 percent in November from a year earlier to 121,451 vehicles, hurt by the continuing downturn in the micro commercial vehicle market.
Corporate sales: sustained double-digit growth
In November 2015, gm and its joint ventures' retail sales in China rose 14% from a year earlier to a record 346,671 vehicles. After October, gm saw another double-digit percentage increase in sales in China. In the january-november period, gm and its joint ventures' retail sales in China rose 4.1% from a year earlier to a record high of 3,166,791 vehicles, on track to top 3.5 million for the full year.
Mr Qian huikang, executive vice-president of gm global and President of gm China, said: "the market has improved in the past two months. With new models like the Chevrolet RV and buick veron coupe/veron GS, gm is well positioned for strong year-end growth."
Since 2015, foreign auto companies in China have suffered a cold snap, falling into a price cutting frenzy. This is related to factors such as slower macroeconomic development and the fact that foreign brands are not as good as their own brands in SUV segment market. Gm has also seen year-on-year declines in several months. But starting in October, as the policy winds shifted, the purchase tax on small cars with engines below 1.6 liters was cut in half, ushering in new opportunities for automakers like gm.
In suvs, gm is expanding rapidly in China. Sales of gm's suvs, driven by the buick envision and baojun 560, surged 231 per cent in November from a year earlier. Fast-growing suvs accounted for 19% of gm's sales in China, up from 6.5% a year earlier.
Brand and model sales: the three brands set new monthly sales records
According to the sales data of various brands, buick, Cadillac and baojun have all set new monthly sales records in China.
Buick remained the top-selling brand, with China sales up 45% in November from a year earlier to 107,925 vehicles. Among them, buick's new yinglang sales more than doubled year on year, and weilang sales rose 60% month-on-month to 9,619 vehicles. The wilang coupe/GS, which went on sale in November, and the wilang sedan and the new yinglang, which went on sale earlier this year, reinforce gm's compact vehicle product matrix in China.
The fastest growth was for the baojun brand, which saw sales jump 110% year on year to 58,051 vehicles. Baojun 560, baojun 730, automatic transmission models of related products will be launched next year.
The Cadillac luxury brand sold 7,935 cars in November, up 57% from a year earlier and the seventh straight month of double-digit sales growth. Among them, ATS-L sales increased by 182%. The new Cadillac ats-l28t, a sleek model with a new 8-speed manual all-in-one gearbox, went on sale on Nov. 26.
In November, Chevrolet brand sales fell 11 percent from a year earlier to 51,192 vehicles as a result of product upgrades. At the guangzhou auto show last month, Chevrolet's new urban RV officially launched, and the new flagship malibu XL made its Asian debut.
Domestic sales of the wuling brand fell 10 percent in November from a year earlier to 121,451 vehicles, hurt by the continuing downturn in the micro commercial vehicle market.
