GM China sales surpass US for 1st time
By Jin Jing |
July 3, 2010, Saturday
|
Print Edition
Print Edition
GENERAL Motors Corp has sold more cars in China than in its home market in the United States for the first time, reflecting the growing importance of the Chinese market to helping it recover globally.
GM and its Chinese joint ventures sold 1.2 million units in the first half of this year, an increase of 49 percent from the same period in 2009, the US auto maker said in a statement yesterday. It sold 1.08 million units in the US.
Although the sales in the US marked a rebound, GM still counted on emerging markets such as China to boost sales and profit after driving out of bankruptcy.
GM's sales rose 23.2 percent to 176,486 units in June, including 71,785 units under passenger car venture Shanghai GM, the statement added.
GM outperformed other international auto makers in China due to its successful product strategy, according to John Zeng, an analyst at automotive consulting firm Global Insight in Shanghai.
GM is refreshing its product lineup this year with new models such as the Chevrolet New Sail hatchback and Buick Excelle GT small car. It expects the new lineup to help propel its sales in the second half of 2010.
GM, which makes passenger cars with China's SAIC Motor Corp, said earlier that it would launch 25 new and upgraded models equipped with the latest green technology in China by 2012.
It aims to sell 2 million units this year and forecasts a 50 percent jump in sales to 3 million vehicles by 2015.
Vehicle sales in China continued to drive ahead this year after the central government extended vehicle subsidies and levied a favorable tax. Industry-wide vehicle sales rose 53 percent to 7.6 million units in the first five months of this year.
GM and its Chinese joint ventures sold 1.2 million units in the first half of this year, an increase of 49 percent from the same period in 2009, the US auto maker said in a statement yesterday. It sold 1.08 million units in the US.
Although the sales in the US marked a rebound, GM still counted on emerging markets such as China to boost sales and profit after driving out of bankruptcy.
GM's sales rose 23.2 percent to 176,486 units in June, including 71,785 units under passenger car venture Shanghai GM, the statement added.
GM outperformed other international auto makers in China due to its successful product strategy, according to John Zeng, an analyst at automotive consulting firm Global Insight in Shanghai.
GM is refreshing its product lineup this year with new models such as the Chevrolet New Sail hatchback and Buick Excelle GT small car. It expects the new lineup to help propel its sales in the second half of 2010.
GM, which makes passenger cars with China's SAIC Motor Corp, said earlier that it would launch 25 new and upgraded models equipped with the latest green technology in China by 2012.
It aims to sell 2 million units this year and forecasts a 50 percent jump in sales to 3 million vehicles by 2015.
Vehicle sales in China continued to drive ahead this year after the central government extended vehicle subsidies and levied a favorable tax. Industry-wide vehicle sales rose 53 percent to 7.6 million units in the first five months of this year.
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