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FILE PHOTO: The GM logo is pictured at the General Motors Assembly Plant in Ramos Arizpe, Mexico

MONEY & BUSINESS:
Cadillac, Buick assistance GM to very first China sales development in 2 years


SUBMIT PICTURE: The GM logo design is imagined at the General Motors Assembly Plant in Ramos Arizpe, state of Coahuila, Mexico, Oct. 7, 2019. REUTERS/Daniel Becerril/File Picture

October 12, 2020

By Yilei Sun and Brenda Goh

BEIJING (Reuters) – General Motors Co (GM) <GM.N> on Monday stated continued market healing from the COVID-19 crisis assisted its China automobile sales grow 12% on year in July-September, marking the Detroit car manufacturer’s very first Chinese quarterly sales development in 2 years.

The second-biggest foreign car manufacturer in China by systems – after Germany’s Volkswagen AG <VOWG_p.DE> – stated on Monday it provided 771,400 cars in China in the 3rd quarter. That followed a 5% fall in the 2nd quarter, when parts of China were still emerging from virus-busting lockdown steps.

GM has a Shanghai-based joint endeavor with SAIC Motor Corp Ltd <600104.SS> making Buick, Chevrolet and Cadillac cars. It has another endeavor, SGMW, with SAIC and Guangxi Vehicle Group, producing no-frills mini-vans and which has actually begun making higher-end automobiles.

Sales increased 26% for automobiles under its mass-market Buick brand name in the 3rd quarter versus the very same duration a year previously, while those of superior brand name Cadillac leapt 28%, GM stated in a declaration. Sales of its mass-market Chevrolet marque fell 20%.

Sales of no-frills brand name Wuling grew 26%, whereas those of mass-market Baojun cars toppled 19%.

“GM’s compact models returned to four-cylinder engines and that helped sales growth,” stated LMC Automotive senior expert Alan Kang, describing an effort to market cleaner however noisier three-cylinder variations. “Cadillac also has a more complete lineup this year.”

China’s most significant car manufacturers’ association anticipates general automobile sales to grow by double digits in July-September versus a year previously. Makers such as Toyota Motor Corp <7203.T>, Honda Motor Co Ltd <7267.T> and Geely Vehicle Holdings Ltd <0175.HK> saw sales leap in the just-finished quarter.

GM has actually seen its China sales suffer in a congested market and slowing economy. To restore its fortunes, it prepares to have electrical cars (EVs) comprise over 40% of brand-new designs in the next 5 years in China, where the federal government promotes greener automobiles.

The car manufacturer’s Wuling Hong Guang MINI EV, a micro two-door EV with a beginning cost of 28,800 yuan ($4,200), was China’s biggest-selling EV in August.

GM’s sales fell 15% in 2019 from a year previously to 3.09 million cars. The car manufacturer provided 3.65 million cars in 2018 and 4.04 million in 2017.

(Reporting by Yilei Sun and Brenda Goh; Modifying by Christopher Cushing and Jacqueline Wong)

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Hmm. yes i understand the
question, you know it's been at least
15 years since I've been following the news, no 10 my folks do that, hmm. what was the question again !?
Excuse me! But can you remember
where you read about this ?
Are you kidding !?
of course I can, it was on
the website u.s.news.com
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