28 C
Lagos
Saturday, August 15, 2020
Home Around-the-World GM's China Sales Drop 5% in Second Quarter

GM’s China Sales Drop 5% in Second Quarter

General Motors Co’s vehicle sales in China dropped 5.3% between April and June from the corresponding period last year, underperforming the industry average amid a recovery from the coronavirus fallout on the world’s biggest auto market.

China’s overall figure, which includes passenger and commercial vehicles, rose 4.4% in April and 14.5% in May, said the China Association of Automobile Manufacturers (CAAM), adding that it expected auto sales to grow 11% in June.

GM, China’s second-biggest foreign automaker after Volkswagen AG, delivered 713,600 vehicles in the country in the second quarter, the company said in a statement, after reporting a drop of 43% in sales in the first quarter, due to the pandemic.

GM has a Shanghai-based joint venture in China with SAIC Motor Corp, which makes Buick, Chevrolet and Cadillac vehicles. It has another venture, SGMW, with SAIC and Guangxi Automobile Group that produces no-frills minivans and has started making higher-end cars.

Sales of GM’s mass-market brand Buick rose 7.8% while Chevrolet dropped 27.7% for the latest quarter. Sales of premium brand Cadillac fell 12%, GM said in a statement on Friday.

Sales of the no-frills brand Wuling grew 9.7%, but those of Baojun tumbled 30.7%.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

How to Know If You Are an Aggressive Driver?

A survey conducted jointly by the University of Johannesburg’s Centre for Social Change and the Developmental, Capable and Ethical State research...

Oil Prices Rise Amid Hopes for Fuel Demand Recovery

In spite of the coronavirus pandemic that has slammed economies worldwide, Oil prices, today (Friday), head for the second week of...

Trucks, Excavators to Push China’s Diesel Demand To Record

China’s diesel demand is likely to hit a record this year powered by trucking activity, as Beijing’s aggressive stimulus fuels a...

Emission Test Fraud: Mercedes-Benz Maker Charged About $3 Billion

Maker of Mercedes-Benz brand, Daimler, has reached agreements costing nearly $3 billion to settle civil investigations by U.S. regulators and lawsuits...
error: Content is protected !!