GM Reported China Sales Up 11.1% in July image

GM and its joint ventures in China sold 221,580 vehicles in the country, an increase of 11.1% from the same period last year.

The US automaker’s joint venture with Shanghai’s SAIC Motor sold 113,239 vehicles in July, up 17%, while the joint venture with FAW Group reported a drop of 4.1% to 3,239 vehicles. The SAIC-GM-Wuling Automobile sold 104,682 vehicles last month, up 6.1% from the same month last year.

Last year GM sold 2.84 million vehicles in the largest auto market in the world, surpassing rivals like Toyota and VW. During the first half of 2013 GM outsold VW, thanks to increased demand for the Buick and Cadillac models. The US automaker’s improved sales so far this year take GM closer to its target of becoming the sales leader among foreign car makers in China for the 9th straight year.

“We plan to keep adding new and refreshed models this year to maintain growth momentum and meet rising demand in China,” Bob Socia, president of GM China, said in a statement.

On another matter, GM also announced it plans to build four new plants in China by 2015 and reach production capacity of 5 million units annually. Bob Socia said that this move will also add 6,000 jobs in the region.

Source: Reuters