GM April Sales in China Up, While Toyota Dropped image

GM reported sales up in China for April, while Toyota’s deliveries continued to fall in the world’s largest auto market.

In April, GM’s sales in China increased 15% to 261,870 vehicles, after a rise of 13% in March. Toyota announced sales dropped 6.5% to 76,400 units, accounting for the ninth drop in 10 months. GM’s Buick and Chevrolet models saw a rise of 20%, as the US automaker tries to keep the no.1 place among foreign automakers in China for the 9th straight year.

Mazda also announced sales down 15% in April in China, while Volvo’s sales increased 30%, making the Asian country its biggest market. GM and Cadillac’s sales increased 99% to a record 4,077 vehicles, due to the all-new XTS model. GM relies on the luxury Cadillac brand planning to sell 100,000 units in 2015 and reach 10% market share in the premium segment by 2020.

GM holds to its target of selling 3 million vehicles this year in China and 5 million units by 2015, after it sold 2.84 million vehicles in the region last year. The automaker will invest $11 billion by 2016 to add new jobs, products and plants in China to consolidate its position in the world’s largest auto market.

Source: Bloomberg