General Motors

General Motors’ China sales drop for third year due to coronavirus

General Motors vehicle sales in China dropped 6.2% in 2020, as the U.S. automaker suffered a prolonged sales decline in the world’s biggest auto market due to the coronavirus crisis.

GM, China’s second-biggest foreign automaker, made deliveries of 2.9 million vehicles in the country in 2020, the automaker said on Wednesday, for a third straight drop in annual sales.

But sales have been recovering in the second half of last year, increasing 12% between July and September and 14% in the final three months.

GM has a Shanghai-based joint venture with SAIC Motor, in which the Buick, Chevrolet, and Cadillac vehicle brands are made. It also has another Liuzhou-based venture, with SAIC and Guangxi Automobile Group, in which they make no-frills minivans and have started to make luxury cars.

Sales of its Buick brand increased 4% on the year and Wuling increased 9%, the statement said. Luxury brand Cadillac’s sales boosted by 8%.

Sales of GM’s more affordable Baojun brand declined 33% last year, while sales of its mass-market Chevrolet dropped 30%.

The automaker had delivered 3.09 million vehicles in China in 2019 and 3.65 million vehicles in 2018.

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