Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

GM China November Sales Rise 11% on Chevrolet Demand

Dec. 2 (Bloomberg) -- General Motors Co., the biggest overseas automaker in China, said sales increased 11 percent in the country last month as it sold more Buick and Chevrolet cars.

The company and its Chinese joint ventures sold 196,990 vehicles last month, Detroit-based GM said in an e-mailed statement today. The pace of sales growth slowed from the 19.6 percent increase reported in October.

GM, which raised $23.1 billion in an initial public offering last month, has said sales in the world’s largest auto market may reach 2.3 million units this year and rise as much as 15 percent in 2011 as demand grows in the fastest-growing major economy. China is already the automaker’s largest market by unit sales and its alliance with SAIC Motor Corp. has a leading 13 percent share.

GM’s passenger-car venture with SAIC Motor, which makes Buick Excelle and Chevrolet Cruze cars, increased sales by 33 percent to 105,097 units last month on strong demand for Cruze sedans and New Sail small cars, according to the statement. SAIC-GM-Wuling Automotive Co., a mini-vehicle maker in which GM plans to increase its stake to 44 percent from 34 percent, sold 84,879 mini vehicles in China in November, GM said, without providing a comparison.

In the first 11 months of 2010, GM’s China sales jumped 33 percent to 2.17 million units, with the company becoming the first overseas automaker to sell more than 2 million vehicles in the country in a year, according to the statement.

To contact Bloomberg News staff for this story: Liza Lin in Singapore at llin15@bloomberg.net

To contact the editor responsible for this story: Kae Inoue at kinoue@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.