For the second year in a row, General Motors (GM) has sold over 20,00,000 vehicles in China for this financial year 2011-2012.
According to Mr. Kevin Wale, President and Managing Director of the GM China Group, “This is another outstanding achievement for GM in the world’s largest vehicle market.” Mr. Wale further added the company’s key brands and other key products are in great demand despite the competition.
GM attributes its success to the sales of the Buick, the Cadillac, and the Chevrolet, as well as its SAIC-GM-Wuling joint venture. Demand for the Buick brand in China has risen 24%, while that for Cadillac by 73% and Chevrolet posted an 18% increase in 2011.
To further boost its profits, GM’s SAIC-GM-Wuling joint venture is aiming to penetrate in smaller cities in China and wants to tap the potential in Tier III and IV cities.
Despite the slow-down in the automotive industry in China, GM and its joint ventures posted their second highest monthly numbers for September 2011. The domestic sales for September 2011, stood at 2,40,244 units, an increase of 15.3% from the sales for the same period in 2010.