The top US automaker General Motors, in collaboration with its joint ventures in China delivered 367,712 vehicles in January, which represent a growth of 14.5% from the same period last year. While Cadillac and Baojun set monthly sales record, Chevrolet brand experienced its best monthly sales growth in three years. Let’s dig deep into the Detroit automaker’s performance in China.
How did the brands fare?
With sales gain of 12% on a year over year basis to 20,222 units, January marked Cadillac’s 23rd month of double-digit sales growth. The XT5 luxury SUV happened to be the brand’s best selling model for the month with total deliveries of more than 7,600 units. While sales of XTS luxury sedan jumped 32% to more than 6,000 units, ATS-L deliveries stood at more than 5,300 units. CT6 sales, too, climbed 50% to more than 1,100 units. The fact that all the brand’s models did well helped Cadillac to maintain its streak of double-digit sales growth.
Chevrolet sales for the month amounted to 54,350 units, up 40% from January 2016. As a matter of fact, this was the brand’s highest monthly growth from February 2015. The Malibu family sales doubled to 12,000 units as compared with the same period in 2017. Equinox sales amounted to almost 6,600 units. Cavalier delivered a whopping 19,000 units during the month and undoubtedly, was the brand’s best-selling model.
Buick sales went up 5.7% year over year to 113,007 units. While the Excelle GT sedan proved to be the best-selling model with deliveries reaching almost 32,000 units, Verano family sales amounted to 18,000 units. The sales gain was also attributable to impressive sales of GL8 MPV family, up 34% in January to more than 14,000 units.
Baojun sales soared 36% to 92,356 units thanks to Baojun 510 SUV, which was the brand’s best-selling model for 10 successive months with deliveries going past 43,000 units. Also, Baojun 310 family saw sales being doubled from last year’s January to 21,000 units.
Wuling sales for January came in at 87,777 units. The brand’s popular Hong Guang sales were more than 48,000 units in China. Hong Guang S3 contributed one-third of those sales.
Last word
The Detroit-based automaker is performing well in the most lucrative market segment, as is evident from its numbers. General Motors plan to roll out 15 new and refreshed models this year with focus on SUVs, MPVs and luxury cars. China is determined to move into an environmentally friendly automotive world and in response to this, General Motors would launch 20 new zero-emissions worldwide, the major chunk of which will be sold in China. It will be interesting to see whether the company would meet its target and continue its dominance in the Asian economy.
Disclosure: I do not hold any position in the stock mentioned in this article.
