Archive for ‘General Motors’

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11/05/2020

Coronavirus: China car sales mark first gain in almost two years after restrictions are eased

  • Sales in April hit 2.07 million units in the world’s biggest car market, up 4.4 per cent from a year earlier, according to the country’s largest industry association
  • The number of new energy vehicles (NEVs) sold fell for a tenth straight month to The global industry has been hit hard by the health crisis, but there is growing optimism of improvement in business in China as the country has largely contained the outbreak and started easing lockdown measures. Photo: AFP
The global industry has been hit hard by the health crisis, but there is growing optimism of improvement in business in China as the country has largely contained the outbreak and started easing lockdown measures. Photo: AFP

China’s monthly car sales rose for the first time in almost two years in April, industry data showed, as more customers visited showrooms after the economy began to open up and authorities loosened coronavirus-related travel restrictions.

Sales in April hit 2.07 million units in the world’s biggest car market, up 4.4 per cent from a year earlier, according to data from the China Association of Automobile Manufacturers, the country’s largest industry association.

This follows a 43 per cent drop in March and a sharper 79 per cent plunge in February

 as the pandemic pummelled demand. Monthly sales in China last rose in June 2018.

The number of new energy vehicles (NEVs) sold fell for a tenth straight month to 72,000 units, the data showed. NEVs include battery-powered electric, plug-in hybrid and hydrogen fuel-cell vehicles.

The global industry has been hit hard by the health crisis, but there is growing optimism of improvement in business in China as the country has largely contained the outbreak and started easing lockdown measures.

Volkswagen reported positive China sales in April, while General Motors’ China ventures saw double-digit year-on-year growth last month.

Source: SCMP

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03/05/2020

GM and SAIC’s China sales rebound in April as market recovers

BEIJING (Reuters) – General Motors’ sales in China saw double-digit year-on-year growth in April, its two local ventures said on Sunday, as the world’s biggest auto market recovers from the coronavirus.

GM’s (GM.N) joint venture with SAIC Motor Corp (600104.SS), which manufactures Buick, Chevrolet and Cadillac vehicles, said its sales in China grew 13.6% compared to a year earlier. It said it had sold 111,155 units in April, including exported cars.

Meanwhile, SGMW, a separate GM venture with SAIC and Guangxi Automobile Group which produces no-frills minivans and has started to make higher-end cars, said its sales jumped 13.5% to over 127,000 units last month.

U.S. automaker GM, which is China’s second biggest foreign car company after Volkswagen (VOWG_p.DE), said its sales in China fell 43.3% in the first three months of 2020 compared with the same period last year.

To attract customers, GM and SAIC have hired social media celebrities to promote its new models and are offering free medical masks to customers.

China’s biggest automaker SAIC, which sold more than 6 million cars last year, said its sales rose 0.5% compared to the same period last year. As well as the GM venture, it also builds its own brand cars and operates a venture with Volkswagen.

Source: Reuters

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