Posts Tagged ‘general motors china’

GM, Ford January Sales Slump in China

Celebrations closed businesses all over the country.

by on Feb.10, 2017

Ford sales dropped 32% year-over-year in January due to the Chinese New Year celebrations.

The timing of the Chinese New Year and a tax hike took a heavy toll on new vehicle sales in China during January.

Both General Motors and Ford Motor Co., which finished 2016 with a jump in sales, saw their sales decline as the New Year celebration shut down businesses of all kinds across China.

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General Motors and its joint ventures sales declined 24% due to the earlier Spring Festival holiday and reduction in the vehicle purchase tax incentive, GM said in a statement. (more…)

GM’s China Sales Jump in September

Cadillac sales jump more than 50% for third straight month.

by on Oct.11, 2016

Cadillac saw XTS sales rise more than 30% last month in China.

General Motors reported sales in China increased by 16% during September and its joint ventures delivered a record 343,773 vehicles. The maker also announced an investment in a Chinese ride-sharing venture.

Cadillac set an all-time record for monthly deliveries, while Buick and Baojun, GM’s China-only brand, reached new highs for September, GM reported. In the first nine months of 2016, retail sales by GM and its joint ventures in China increased 9% on an annual basis to a record 2,718,315 units.

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“The growth in demand last month was supported by improving product mix,” said GM Executive Vice President and GM China President Matt Tsien. “We saw strong sales momentum across our brands, especially Cadillac in the luxury segment.” (more…)

General Motors China Sales Drop 9.3 Percent in February

Decline raises red flags about 2016 auto sales.

by on Mar.07, 2016

The Buick Envision helped push GM China's SUV sales up 115% in February. The company's overall sales were down 9.3%.

General Motors reported it sales in China dropped by 9.3% during February, reversing the sales gain the automaker reported during January and ing the anxiety felt around the world about the outlook for the Chinese economy in general.

GM blamed the decline on seasonal factors, notably the early start to the Chinese New Year holiday, which shuts down commerce throughout China. But with concerns about the path of the Chinese economy rattling markets around the world, the decline in February is bound to the anxiety over future auto sales in China, which is now the world’s largest market.

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GM executives have predicted that new vehicle sales in China, where the automaker ranks just behind Volkswagen in total sales, would grow modestly 2016. (more…)

Some Automakers Thriving in Slower China Economy

GM, Ford, Mercedes all expect sales to outpace industry in 2016.

by on Jan.18, 2016

The Buick Envision enjoyed explosive success in the Chinese market in 2015, giving GM reason to be optimistic about China in 2016.

A huge drop in the value of Chinese stocks has unsettled the global economy and led to predictions of slower growth around the world and intense pressure on the energy sector where an oil glut has developed in face of falling demand.

Nonetheless, automakers remain surprisingly upbeat about sales in China, which has become by far the world’s largest market for new vehicles despite the prospects for only modest growth of the Chinese economy overall.

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No one expects the kind of explosive, double-digit growth that characterized the decade prior to 2015 when it finally slowed dramatically. But automakers such as Ford Motor, General Motors and Daimler AG remain cautiously optimistic about their Chinese business. (more…)

Sluggish Market Impacts GM China Sales

Buick slides 8.5 Percent in April.

by on May.07, 2015

Despite a strong month by the Buick Excelle, the brand's sales in China were down 8.5% in April.

After long stretch of year-over-year sales increases that continued even as the Chinese economy began to show signs of slowing down, General Motors and its joint ventures in China reported a 0.4% drop in sales during April.

Domestic sales by SAIC-GM-Wuling were up 10.2% year on year to 139,041 units. But sales by Shanghai GM, GM’s other major venture, dropped 6.7% to 119,032 units.

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GM offered no comment on the sales decline last month, which came amid signs that the rapid growth of the global auto industry is beginning to slow as China grapples with complex economic and environmental challenges. In addition, starting with April’s results, GM is reporting retail deliveries rather than wholesales in China. (more…)

Ford, GM Implement Expansion Plans in China

Makers invest in plants despite slowing economy.

by on Jan.30, 2015

Shanghai GM invested more than $1 billion in a new plant in China's Hubei province and expanded other facilities in the country.

Despite the fact that China’s economic growth has slowed, General Motors and Ford Motor Co. continue pushing ahead with plans to expand their production footprint there.

Mark Fields, Ford’s chief executive officer, told analysts this week thatFord expects the Chinese economy to grow by 7% to 7.5%, which is ample enough to sustain an increase in sales of new vehicles. Ford expects sales to come in at between 24 million and 26 million units and the automaker, with its Chinese partner, is moving ahead with plans to open two new factories in China this year.

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Ford plans to open both an assembly plant and an engine plant in China this year. Ford sales in China grew 19% in 2014 to 1.1 million units and helped maintain the profitability of Ford overall operations in the Asia Pacific region despite losses in other parts of the region. (more…)

GM Sets New October Sales Record in China

Lincoln expanding footprint there as economy begins to cool.

by on Nov.10, 2014

General Motors hit an October sales record of 291,371 vehicles in China.

General Motors routinely sell more cars in China than it does in the United States and October was no exception as GM and its joint ventures delivered 291,371 vehicles to customers in China last month, setting a new October record.

By comparison, GM sold 226,000 vehicles in the U.S. in October.

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GM also got some new competition in China as the Ford Motor Co.’s Lincoln division also has begun its push into the Chinese market. Lincoln opened its first three stores in Beijing, Shanghai and Hangzhou. (more…)

Chinese Newspaper Lauds GM for Social Responsibility

GM China’s efforts to cut pollution, helping people nets honor.

by on Jul.25, 2014

General Motors China was recognized today as the fourth-best Fortune 500 company in the area of corporate social responsibility at the 2014 Corporate Social Responsibility Annual Conference in Beijing.

For the second consecutive year, Southern Weekly, an influential Chinese newspaper, honored General Motors China as one of the top companies in the area of corporate social responsibility for its civic spirit and sensitivity to the environment.

The Corporate Social Responsibility Annual Conference, which is sponsored by Southern Weekly, helps increase awareness of CSR among companies while honoring their significant achievements.

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Southern Weekly is described by western journalists as one of China’s most outspoken and independent news organizations; however, it is part of provincial newspaper group supervised by Guangdong Provincial Party Committee of China’s ruling Communist Party in Southern China in a province that has been leader in modernizing and expanding the Chinese economy. (more…)

GM Relocates International Headquarters to Singapore

Shift from Shanghai allows maker to focus efforts in China.

by on Nov.13, 2013

GM is moving its international headquarters from Shanghai, China, to Singapore.

General Motors is moving its international headquarters from Shanghai, China, to Singapore. Stefan Jacoby, an executive vice president, will oversee about 120 employees in the new location, GM said in a statement.

The move, which expected to be complete in the second quarter of 2014, is part of the maker’s recently announced plans separate China operations from its international unit.

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By splitting China from that group, the company can focus on the Chinese marketplace, which is the largest in the world. GM sold 2.84 million autos in China last year, making the country its biggest single market, and expects to deliver 3 million vehicles this year. (more…)

GM, VW Battle for Dominance in China

Chinese market regains momentum after showing signs of a slump.

by on Oct.14, 2013

VW is well established in China's Pacific Crescent - but now it wants to target emerging regions of the country to maintain its growth.

Volkswagen AG and General Motors are locked in a bitter duel over sales leadership in China with the edge going to VW during the first nine months of the year.

With China now the world’s largest automotive market, dominance means more than bragging rights. GM already sells more vehicles in the populous Asian nation than in the U.S., and China promises to be a major factor in the bottom line results of most automotive manufacturers going forward.

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VW’s sales in China for the first nine months of 2013 rose 18% to 2.35 million cars and sport-utility vehicles through the end of September. The maker of Volkswagen, Audi and Porsche vehicles is relying on growth in China to offset slumping demand in Europe, where sales are set to drop for a sixth straight year, and reach its goal of overtaking both GM and Toyota to become the world’s largest automaker.