GM China November Sales Increase 9.7% on Buick, Chevrolet
(Corrects model name in sixth paragraph of story published yesterday.)
General Motors Co. (GM), the biggest foreign automaker in China, reported November sales in the country increased 9.7 percent on demand for its Buick and Chevrolet cars countered a decline in Wuling deliveries.
China sales climbed to 260,018 units in November, led by a 17 percent increase in Buick sales, the Detroit-based automaker said in a statement on its website today. For the first 11 months, deliveries rose 10 percent to 2.59 million units, exceeding the full-year tally in 2011, it said.
The U.S. automaker has outpaced China’s average industry growth this year as it opened more dealerships in the country. GM plans to add a new Cadillac model annually in the country through 2016 as it seeks to boost sales of the luxury brand in the world’s largest auto market.
GM had said it plans to invest as much as $7 billion in the five years to 2015 in China. GM China President Bob Socia said Nov. 30 the company’s priority next year is to boost Cadillac sales.
The automaker’s Cadillac deliveries rose 8.4 percent last month to 3,260 units, led by the SRX sport utility vehicle at 2,082 units.
Sales of GM’s China-only Baojun marque surged 70 percent from a year earlier to 10,232 units, according to the company. The automaker sells two models under the brand, the Baojun 630 with a starting price from 62,800 yuan ($10,080), and the Le Chi that sells from 39,800 yuan, according to its website.
Deliveries of SAIC-GM-Wuling Automobile Co., the venture that makes Wuling mini-commercial vehicles, slipped 0.5 percent to 118,536 units last month, the first year-on-year decline in 10 months. Sales at FAW-GM Light Commercial Vehicle Co., the venture with FAW Group Corp., increased 4.2 percent to 4,837 units.
Average passenger-vehicle prices have fallen every month this year as dealerships increased discounts and incentives to reduce inventory, according to data from the National Development and Reform Commission.
To contact Bloomberg News staff for this story: Tian Ying in Beijing at email@example.com
To contact the editor responsible for this story: Young-Sam Cho at firstname.lastname@example.org