The top U.S. automaker General Motors (GM, Financial) reported March sales in China, which grew by 2% on a year over year basis to 353,346 units. The company’s year-to-date sales surged 8% to 986,052 units. While Baojun and Wuling reported mixed monthly sales, Buick and Cadillac recorded astonishing sales for March. As a matter of fact, Chevrolet, Buick and Cadillac also had decent monthly performances.
How did the brands fare?
Cadillac continues to dominate the China market with 25 successive months of year over year sales gains. In March, the brand’s sales soared 46% to 18,007 units. Cadillac’s sales volumes in China were 3,513 units more than U.S. sales volumes. The models that attributed to that brand’s growth in China were Cadillac XT5 (up 36% year over year), Cadillac XTS (up 65%), Cadillac ATS-L (up 32%) and Cadillac CT6 (doubled from last year).
Buick sales in China jumped 4% to 92,007 units. While Excelle GT sales amounted to roughly 24,000 units, Verano sales stood at more than 15,000 units. Moreover, Buick GL8 sales improved 24% to approximately 13,000 units. To expand its presence in China, Buick will roll out plug-in hybrid and pure battery electric vehicles in the coming two years, which would further satisfy the Chinese government’s requirement of green car lineup.
Chevrolet sales rose 35.3% to 47,047 units. Cavalier sales grew a mammoth 85% to 19,000 units. In March, the brand introduced Cavalier 325T with a new-generation Ecotec 1.0L turbocharged engine to boost the sales of its top-selling Cavalier in the Asian economy. Other models that contributed to the brand’s monthly sales growth were Malibu and Equinox, whose sales amounted to 9,600 units and 6,000 units, respectively.
Boajun sales plummeted 5.4% year over year to 76, 980 vehicles. Baojun 510 sales almost doubled to 32,000 units thereby remaining the brand’s top-selling vehicle for the month. Baojun 310 sales, on the other hand, spiked 58% year on year exceeding 16,000 units. Baojun 530 sales totaled nearly 10,000 units after it was launched on March 11.
Wuling sales declined nearly 8% year over year to 118,335 units. Of the total Wuling sales, Hong Guang MPV family comprised more than 45,000 units. Moreover, Hong Guang S3 accounted for nearly one-fourth of the total Wuling sales.
Last word
Looking at the growth opportunities in the red-hot China market, the Detroit-based automaker would introduce this year,15 new and rejuvenated models. Half of those new models would be SUVs and MPVs, the demand for which stays higher in China.
Disclosure: I do not hold any position in the stock mentioned in this article.
