GM China Sales Growth Accelerates to 11.1% on Demand for BuicksBloomberg News
General Motors Co., the largest foreign automaker in China, said sales growth in the country accelerated last month as deliveries of Buick vehicles expanded at the fastest pace this year.
Total sales in July climbed 11.1 percent to 221,580 units, after expanding 10.6 percent the preceding month, Detroit-based GM said in a statement today. Buick deliveries jumped 26 percent to 66,208 units on the popularity of the Excelle line and Cadillac sales surged 83 percent to 3,688, though Chevrolet fell 3.4 percent to 43,343.
GM’s sales have risen 11 percent this year, keeping it on track to reach its target of selling 3 million vehicles this year in the world’s largest auto market. The automaker last week appointed Tim Lee to a newly created position as chairman of China operations, as it expands production capacity to five million vehicles a year by 2015.
The company plans to introduce 17 new models this year in China, its largest market, with the focus on sport utility vehicles and luxury models. GM is looking at bringing in nine new or refreshed SUVs in China over the next five years.
Deliveries of Wuling vehicles, which account for almost half of GM’s China sales, increased 4.5 percent to 98,380 units last month, while the low-cost Baojun brand tripled to 6,302 units last month, according to the company.
— With assistance by Alexandra Ho