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GM sells July record 249,734 vehicles in China; 2M units ytd

General Motors and its joint ventures in China set a new domestic sales record for July of 249,734 vehicles. Demand increased 12.7% from the same month in 2013. In addition, GM sold its 2 millionth vehicle in China in 2014. This is the fifth consecutive year for 2-million-plus sales and the earliest ever that GM has reached the milestone.

Last month, Shanghai GM and SAIC-GM-Wuling as well as their Buick, Chevrolet, Cadillac and Wuling brands reached new highs for July sales. Shanghai GM’s domestic sales rose 6.6% from July 2013 to 120,734 units. SAIC-GM-Wuling sold 125,895 vehicles in China, an increase of 20.3% year on year. FAW-GM sold 3,105 vehicles in the domestic market last month, which was down 4.1% from the previous July.

Buick’s domestic sales rose 1.0% on an annual basis to 66,858 units. It was led by the original Excelle family, which had sales of 20,786 units, and the Excelle XT and GT, which had sales of 17,294 units. In addition, sales of the Regal and Encore were 8,837 units and 7,311 units respectively.

Chevrolet sales in China were up 10.9% on an annual basis to 48,046 units. Sales of the brand’s most popular model, the Cruze, totaled 23,129 units in July, which was an increase of 27.8% year on year. The Cruze was followed by the Sail, which had sales of 7,495 units, and the Malibu, which had sales of 7,053 units.

Cadillac sales were up 58.1% on an annual basis to 5,830 units in July. XTS sales jumped 71.1% to 2,429 units and the SRX sold 2,154 units.

Wuling sales in China last month rose 25.0% year on year to 122,995 units. The Hong Guang family sold 55,008 units, which was an increase of 91.1% year on year. Demand for the Baojun brand was 2,900 units in July.

GM’s strong performance in July took its sales for the first seven months of the year to 1,981,016 units, an increase of 10.7% on an annual basis. Shanghai GM’s sales rose 9.8% to 940,401 units, SAIC-GM-Wuling’s sales grew 12.5% to 1,009,619 units and FAW-GM’s sales were down 6.9% to 30,684 vehicles.

During the first seven months of 2014, Buick sales rose 10.6% year on year to 517,279 units, Chevrolet sales were up 5.0% to 383,532 units, Cadillac sales increased 69.6% to 39,590 units, Wuling sales grew 14.5% to 968,839 units and Baojun sales decreased 20.9% to 40,780 units.



Good news for oil companies. Demand and price will go higher. I am sure it will encourage other american companies to invest their money in China and not the US. Maybe next time China can bail them out.

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