CHINA TOPIX

04/29/2024 12:34:40 pm

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GM, Ford Report Strong Sales in China

Cadillac

(Photo : Reuters) China's increasing wealth has helped spur sales of U.S. automobiles, particularly luxury cars like the Cadillac, which saw its September sales jump by more than 50 percent.

U.S. automakers General Motors Company (GM) and Ford Motor Company (F) have reported strong sales growth in China so far this year, and for the month of September.

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General Motors said that the company and its Chinese joint ventures set a sales record in China for September, as local sales grew more than 15% to nearly 320,000. GM also surpassed a total of 20 million cumulative sales in the country.

Shanghai GM and SAIC-GM-Wuling and their brands also had record domestic sales during the month of September. Shanghai GM's September sales rose 19.6 percent from the same period last year to 158,792. SAIC-GM-Wuling also saw its sales grow 14.5 percent to 159,906 units. However, FAW-GM, a joint venture between GM and FAW Group, reported that its sales plunged nearly 74 percent to 1,238 automobiles.

GM's Buick brand in September saw sales rise 17.8 percent to 83,638 units, compared to September of 2013. Sales of the Excelle brand grew nearly 10 percent to 29,549 units and sales of the Excelle XT and GT models rose 10.1 percent to 21,636 units.

Sales of Chevrolets in China increased more than 19 percent year over year in September to 68,347 vehicles. The brand was led by the Cruze, which recently launched a new generation model and sold 24,256 units. Consumer demand for the Malibu surged 34 percent to a September record of 11,812 vehicles. And the high-end Cadillac brand benefited from China's increasing wealth with a more than 51 percent jump during the month to 6,807, compared to the same month last year.

Ford China also saw growing sales in the country, and reported a 26 percent rise in vehicle sales during the first three quarters of 2014 to more than 813,000 units. The company's passenger car joint venture, Changan Ford, recorded a 27% increase in sales for the first three quarters to more than 591,000.

Jiangling Motors, Ford's commercial vehicle investment in China reported an 18% rise in cumulative sales during the first three quarters of 2014 to 194,854. The group also sold more than 23,600 vehicles during the month of September.

 "Our business in the first three quarters ... fully demonstrated the Chinese consumer recognition of the Ford brand," chairman and CEO of Ford Motor China Xiang said. "In the coming months ... we expect business in China will continue the growth momentum."

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