Sales decline accelerates at GM's 2 joint ventures
Automotive News China
Automotive News | 2019-3-15
General Motors is losing market share in China, with its two local joint ventures posting steep sales declines last month.|
Deliveries at SAIC-GM, GM¡¯s passenger vehicle joint venture with SAIC Motor Corp., slumped 21 percent to 97,177 in February, according to Shanghai-listed SAIC Motor.
SAIC-GM produces and markets Cadillac, Buick and Chevrolet cars and light trucks.
Sales at SAIC-GM-Wuling, GM¡¯s light-vehicle partnership with SAIC, nosedived 36 percent to 99,012 in February.
SAIC-GM-Wuling builds and distributes cars for the entry-level Baojun brand and minibuses for the Wuling marque.
In the first two months, sales at SAIC-GM dropped 15 percent to 277,674 while deliveries at SAIC-GM-Wuling plunged 27 percent to 259,012.
In February, China¡¯s new light-vehicle sales declined 17 percent to 1.22 million.
Year-to-date new light-vehicle deliveries in the country fell 18 percent to 3.24 million, according to the China Association of Automobile Manufacturers.
GM last year stopped releasing monthly sales results for China. The Detroit automaker now discloses sales figures on a quarterly basis.
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