GM China Sales Jump in June, Thanks to Higher Demand for Cadillac image

GM reported sales in China accelerated in June thanks to increased demand for the Cadillac vehicles.

GM’s June sales increased 11% to 236, 207 units, after a jump of 9.4% in May. During the first half of the year the automaker’s sales in China were up 11% to 1.57 million vehicles. For this year GM has set a target of selling 3 million vehicles in China, relying on an investment of $11 billion in the region, which will extend until 2016, but also on the new products.

The US automaker plans to build 4 new plants in the world’s largest auto market and boost annual capacity to 5 million units by 2015. Cadillac’s sales in China increased 69% last month to 4,244 units, thanks to high demand for the XTS sedan and the SRX crossover, and 35% during the first half of the year.

Even if the automaker expects to see luxury vehicles sales in China slowing down, it still broke ground in June to a Cadillac plant in the region. GM’s China chief Bob Socia said that premium vehicle sales in China are expected to rise around 4% in 2013. Last month, Buick sales increased 9.5% to 62,430 units and 17% for the first half and Chevrolet sales increased 7% in June and 6.1% for the first half.

Source: Bloomberg