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GM Surpassed VW in China Sales During the First Half of the Year

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GM Surpassed VW in China Sales During the First Half of the Year

GM managed to outsell VW in the first half, thanks to increased demand for the Cadillac and Buick models.

VW reported China sales up 19% from January to June to 1.54 million vehicles, compared with GM’s 1.57 million vehicles. This means that GM might reach its target of becoming the sales leader among foreign automakers in the Asian country for the 9th consecutive year. Both WV and GM count on China as their biggest market and predicted sales of around 3 million units each in 2013.

“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.

Both automakers plan to make more investments in China to increase production. Last month GM broke ground to a Cadillac plant in Shanghai and announced it will invest $11 billion in the country by 2016 to build new facilities and add new products, while VW will spend 9.8 billion euro by 2015.

Currently, VW manufactures 20 Audi, Skoda and VW models in China, but aims at increasing this number to 30 models by 2015, possibly including the Seat brand. VW reiterated its plans to open five new plants in the country by the end of this year, part of the automaker’s strategy to open 7 new vehicle and components plants in China.

Source: Bloomberg

by Ana Cezara Savin (my Google+) - Friday, July 12th, 2013 - filed under General Motors, News, Sales Reports, Volkswagen. Image credit: .
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