GM’s China sales in January 2018
China is one of the most important growth markets for General Motors (GM) among all its international business operations. In 2017, GM’s China retail sales rose 4.4% YoY (year-over-year) to ~4.0 million units. These sales gains were mainly driven by Chinese markets’ higher demand for luxury vehicles and SUVs.
Chinese government’s vehicle sales tax reduction also helped the auto giant boost its passenger car sales in the country. Now, let’s find out how the company’s key brands performed in China in January 2018.
Brand-wise China sales in January
In January 2018, the Chinese market retail sales (XLY) performance of GM’s key brands were as follows:
- General Motors’ key global brand Chevrolet’s sales rose 39.5% YoY to 54,350 vehicle units in December 2017. However, this was much lower than Chevrolet brands’ December China retail sales of 78,661 units. In 2017, Chevrolet brand’s sales witnessed a 4.2% YoY increase.
- Chinese retail sales of Baojun brand also went up sharply by 36.0% YoY to 92,356 units last month. In 2017, Baojun’s retail sales witnessed a solid increase of ~44.8% YoY.
- About 113,007 vehicle units of Buick brand were sold in January, up 5.7%. Buick’s 2017 sales were in positive territory and rose by 0.2% YoY.
- In January 2018, Chinese market sales of GM’s luxury brand Cadillac rose 3.0% YoY. Last year, the brand’s sales also were up 50.8% to 175,489 units mainly due to high demand for luxury cars in China.
- Wuling was the only brand for GM, which reflected a YoY drop in its China sales in January 2018. The brand’s sales fell 1.9% to 87,777 units. In 2017, Wuling’s retail sales fell 16.3% YoY.
Local Chinese companies primarily benefit from the lower cost of operations and labor in their home country. This fact encouraged these global automakers to partner with local Chinese market auto companies.