GM Sales in China Drop 18% in Third Quarter
General Motors Co. reports it sold 689,500 cars and light trucks in China in July-September, down 18% from the same period in 2018.
The decline marked the fifth consecutive drop in GM China’s monthly year-on-year deliveries in a shrinking overall market. The company’s full-year sales retreated 10% to 3.64 million vehicles in 2018.
Third-quarter sales this year rose 11% to 51,000 vehicles for the Cadillac luxury brand. But demand dropped for Buick (-21% to 199,700 units), Baojun (-35% to 122,900) and Chevrolet (-18% to 96,800).
GM’s Wuling light commercial vehicle venture saw third-quarter sales decline 5% to 219,100 mini-trucks.
Ford has made an accomplishment that will never be bested, never even be tied.
It’s the fifth generation of a vehicle that has been increasing in sales year after year since its introduction in 1997.
Chinese electric-car startup Nio Inc. is forming a manufacturing joint venture with Beijing E-Town International Investment and Development Co., which is investing 10 billion yuan ($1.5 billion) in the business.