According to foreign media reports, GM and its two Chinese joint ventures delivered a total of 373000 vehicles in the Chinese market in the second quarter of this year, down 29% from the same period last year.
According to data released by GM China, the decline in sales is largely related to the performance of SAIC-GM, a joint venture with SAIC, which makes and sells Cadillac, Chevrolet and Buick brands.
Of these, Cadillac sales in china fell 47% in the second quarter from a year earlier to about 29000 units, while sales of Chevrolet-branded cars plunged 79% year-on-year to about 10000 units.
Sales of Buick, GM’s largest American brand in China, fell 40% year-on-year to about 81000 vehicles.
General Motors also worked with SAIC and Wuling Automobile Industry Co., Ltd. to produce and sell Wuling-branded minivans and Baojun-branded entry-level cars.
Combined sales of SAIC GM’s Wuling and Baojun brands fell 12 per cent year-on-year to about 252000 vehicles in the second quarter.
In the first half of this year, the delivery volume of GM and its two local joint ventures in China fell 17% from a year earlier to 814000 vehicles.
GM’s deliveries in China fell for the second year in a row in 2023, down 8.
7% from a year earlier to about 2.
1 million vehicles.
Today, General Motors, Volkswagen Group and other Western automakers, which have operated in China for decades, are facing competitive pressure from Chinese automakers as the Chinese auto market becomes increasingly competitive.
Thanks to an expanding range of electric vehicles, improving vehicle quality and performance, and the use of new automotive technologies, cars produced by Chinese carmakers have attracted young local consumers.
GM’s sales in China have been falling steadily since peaking at 4 million in 2017 and are now almost halving.
In 2010, China became GM’s largest market, and in 2023, the United States became GM’s largest market again.
At present, General Motors is trying to cope with the transition to electric vehicles and hybrid vehicles.
With the expansion of the product line, the demand for electric vehicles assembled by SAIC GM is growing.
GM’s sales of new energy vehicles (including pure electric and plug-in hybrid vehicles) in China rose 24.
1 per cent year-on-year to more than 143000 in the second quarter, accounting for 38 per cent of GM’s quarterly sales in China, according to GM China.
In April, SAIC GM began selling Buick GL8 plug-in hybrid models and Chevrolet plug-in hybrid Equinox crossovers.
Buick GL8.
photo: Buick, General Motors China data show that Buick GL8 sold nearly 20,000 vehicles in the second quarter.
Buick brand micro-blue 6 pure electric car sales more than tripled year-on-year, more than 17000.
SAIC GM also began selling Cadillac IQ Optiq crossovers in April.
The model is SAIC GM’s fourth electric model based on the Ultium platform in China, following Cadillac IQ Lyriq, Buick Electra 5 and Buick Electra 4 crossovers.
In the second quarter of this year, Cadillac CT5 was firmly at the top of the brand’s sales list, selling more than 16000 vehicles.
As Cadillac’s second Autenon electric car launched by Cadillac to the Chinese market, IQ has further boosted the brand’s sales momentum in the luxury pure electric SUV market on the basis of IQ Rui GE.
In addition, Wuling colorful fruit pure electric cars and Wuling Hongguang MINIEV have combined sales of more than 78000 vehicles.
Together, nearly 20,000 Wuling Xingguang plug-in hybrid cars and pure electric cars have been sold.
GM plans to target higher-margin high-end market segments to largely avoid fierce competition in China’s mainstream auto segment.
Tahoe, which has been the top seller of full-size SUV in the United States for many years, will be officially introduced to China this year by General Motors’ high-end imported car and lifestyle platform Durant Guild, GM China said.
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