After a record January, General Motors sales fell last month in China and the outcome for 2016 is not seen as positive anymore.
General Motors has started the year with record sales in China, the automaker reporting a 7.3 percent year over year growth in January. However, the upward trend was abruptly stopped last month, when the Detroit-based company announced a 9.3 percent drop in the world’s biggest auto market, thus raising again concerns about the Chinese economy. GM said the demand was impacted by slow seasonal sales during and after the Chinese New Year holiday, which came earlier this year. However, its executives stay optimistic about 2016 as a whole. “This year we will continue to improve our product mix to meet the fast-changing customer demand,” said GM China President Matt Tsien. “We are on track to execute our product launch plans. New models, including the Cadillac CT6 and Chevrolet Malibu XL, are expected to add to our growth momentum.”
General Motors and its joint ventures delivered 245,690 vehicles in China in February, in contrast with the 421,023 vehicles sold in the first month. The Buick brand advanced 16 percent from a year earlier to record 70,764 units. The growth was led by the Excelle GT and Envision. Baojun also hit a February record of 39,348 units in China, an increase of 52 percent, with the Baojun 730 MPV and Baojun 560 SUV being among the best-selling models in their segments. Chevrolet deliveries dropped 48 percent last month year over year to 27,349 units, primarily due to continued contraction of the small-car segment, which affected the Chevrolet Sail, GM said. Wuling reported 103,438 units in the domestic market, 18 percent lower than in February 2015.