General Motors and its local Chinese joint ventures announced they reached sales of 291,371 units in October in the world’s largest auto market.
Even as the tally last month was the best for any October in China, the company’s sales only increased by 3.2% compared to the same period in 2013. And although the modest growth is a positive result, GM definitely needs to up its pace if it wants to catch up to Volkswagen AG. The German carmaker not only surpassed GM’s sales in China last year, but the move also aided the company in becoming the second-largest automaker in the world, putting GM in third place.
When it comes to the company’s local joint-venture units, SAIC-GM-Wuling was the most successful, with sales up 4.1% to 149,528 units and Shanghai GM’s domestic deliveries rose the most – by 5.6% to 140,357 vehicles. FAW-GM only delivered 1,486 autos.
Buick is the best-selling GM brand in China – increasing deliveries by 7.9% to a total of 75,241 vehicles. Chevrolet did a meager job, climbing by just 1.7% to 60,000 units and Cadillac continued its steep rise – with a 21.8% year-over-year gain in October to 5,116 autos. According to Dong Yang, secretary general of the state-backed China Association of Automobile Manufacturers, total sales in China in 2014 are on pace to reach 23 million units.