Home / Business / Auto Tools: Save | Print | E-mail | Most Read | Comment
Shanghai GM sales go through the roof
Adjust font size:

General Motors Corp yesterday said its flagship Shanghai venture had record sales last month, helped by new models and an industry-wide rebound.

Shanghai General Motors, GM's venture with SAIC Motor Corp, sold 63,303 vehicles last month, nearly double the figure from a year earlier, according to the auto maker's statement. The robust sales also improved from July, when it sold 56,489 units.

Shanghai GM's sales boom in the traditionally slower sales season came as domestic consumers rushed to place their purchases before favorable tax breaks expire at the end of this year.

Industry analysts also believed Shanghai GM made great efforts in rolling out localized products, which worked effectively to help it out of recession and keep growing momentum.

Shanghai GM said it sold 38,905 Buick models last month, an increase of 103 percent from a year earlier. Sales of Chevrolet branded vehicles expanded by 99 percent to 23,771 units.

Sales of the revamped Buick LaCrosse mid-to-high class sedan reached 7,887 units and more than 7,000 new Buick Regal sedans were sold.

New models, including the 1.6Turbo Buick Regal and new Cadillac SRX sport-utility vehicles, are scheduled to be launched later this year.

GM achieved a 38-percent sales growth in China in the first half of this year, and it expects the overall industry would grow more than 20 percent this year.

It has just announced it will spend US$293 million to set up a joint venture with China's FAW Group Corp to make light commercial vehicles.

(Shanghai Daily September 2, 2009)

Tools: Save | Print | E-mail | Most Read Bookmark and Share
Comment
Pet Name
Anonymous
China Archives
Related >>
- GM launches light truck JV with China's FAW
- GM Corp finance unit offers US$1.46b loans
- 'GM' rice may join the menu
- GM sales extend robust patch
June 7 Tokyo 2nd China-Japan High-Level Economic Dialogu

June 30 Shanghai 2009 Automotive Engine Technology Seminar

September 8-12 Xiamen China Int'l Fair for Investment and Trade
- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?