auto

Can Tesla hit 2020 delivery goal? Invest...
October 21, 2020
All-new Hyundai Elantra to hit Mena road...
October 20, 2020
Porsche charts growth path for ME, Afric...
October 19, 2020

autoOctober 13, 2020

Cadillac, Buick help GM to grow sales in China by 12% this year


General Motors Co (GM) on Monday said continued market recovery from the COVID-19 crisis helped its China vehicle sales grow 12% on year in July-September, marking the Detroit automaker’s first Chinese quarterly sales growth in two years.
The second-biggest foreign automaker in China by units - after Germany’s Volkswagen AG VOWG_p.DE - said on Monday it delivered 771,400 vehicles in China in the third quarter. That followed a 5% fall in the second quarter, when parts of China were still emerging from virus-busting lockdown measures.
GM has a Shanghai-based joint venture with SAIC Motor Corp Ltd 600104.SS making Buick, Chevrolet and Cadillac vehicles. It has another venture, SGMW, with SAIC and Guangxi Automobile Group, producing no-frills mini-vans and which has started manufacturing higher-end cars.
Sales rose 26% for cars under its mass-market Buick brand in the third quarter versus the same period a year earlier, while those of premium brand Cadillac jumped 28%, GM said in a statement. Sales of its mass-market Chevrolet marque fell 20%.
Sales of Wuling grew 26%, whereas those of mass-market Baojun vehicles tumbled 19%.
“GM’s compact models returned to four-cylinder engines and that helped sales growth,” said LMC Automotive senior analyst Alan Kang, referring to an attempt to market cleaner but noisier three-cylinder versions. “Cadillac also has a more complete lineup this year.” China’s biggest automakers’ association expects overall car sales to grow by double digits in July-September versus a year earlier.

qatar-tribune