GM's China sales drop 5per cent in second quarter, underperforms industry recovery

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General Motors Co's vehicle sales in China dropped 5.3per cent between April and June from the corresponding period last year, underperforming ...

BEIJING: General Motors' vehicle sales in China dropped 5.3 per cent 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 per cent in April and 14.5 per cent in May, said the China Association of Automobile Manufacturers , adding that it expected auto sales to grow 11 per cent in June.

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 per cent while Chevrolet dropped 27.7 per cent for the latest quarter. Sales of premium brand Cadillac fell 12 per cent, GM said in a statement on Friday.Advertisement

 

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