General Motors' first-half China sales jump 38% on year

[Hurricane]

General Motors' first-half China sales jump 38% on year
By MarketWatch

HONG KONG (MarketWatch) -- General Motors Corp.'s sales of commercial and passenger vehicles in China during the first half were up 38% from a year earlier, according to a report which cited data provided by the company.

Combined sales of commercial and passenger vehicles totaled 814,442 units, Dow Jones Newswires reported, citing figures provided by GM's China units.

GM's commercial vehicle joint venture, SAIC-GM-Wuling Automobile Co., saw unit sales rise 50% from a year earlier to 524,598 units. Sales by its passenger-vehicle joint venture, Shanghai General Motors Corp., reached 288,843 units. The passenger-vehicle joint venture did not provide first-half 2008 unit sales figures.

Full text here: http://www.marketwatch.com/story/gen...-sales-jump-38

[Hurricane]

GM says H1 China vehicle sales up 38 pct yr/yr
Wed Jul 1, 2009 1:09am EDT

SHANGHAI, July 1 (Reuters) - General Motors said on Wednesday its China vehicles sales rose 38 percent in the first half of 2009 from a year earlier as China's stimulus policies boosted automobile demand.

GM sold 814,442 vehicles in China in the January-June period, an all-time first-half record, it said in a statement.

It gave no figures for the month of June, after reporting a 75 percent rise in May sales and 50 percent growth in April.

"China's vehicle market continued to outpace most expectations," said Kevin Wale, president and managing director for GM's China operations.

But it has posted strong sales growth this year in China, its second-largest market, fuelled by brisk sales of locally manufactured minivans and pickup trucks as Beijing offers tax incentives and subsidies to bolster its nascent auto industry and support the slowing economy.

SAIC-GM-Wuling, its commercial vehicle tie-up with China's top automaker SAIC Motor Corp, sold 524,598 vehicles in the first six months of the year, up 49.9 percent from a year earlier, the statement said.

Shanghai GM, its flagship car venture with SAIC, sold 288,843 vehicles during the period, it said. It gave no comparative figures, although data from China's official industry association indicated that would represent a 25 percent year-on-year increase.

Full text here: http://www.reuters.com/article/marke...0090701?rpc=44

[johnstarnes]

That has got to be good for their cash flow.

[gardnet1]

So will it be 2010 or 2011 when GM sells more vehicles in China than the US?

[PistonsFan]

We're seeing these kind of results in China every quarter, and every month. China's auto growth cannot be stopped right now. And fortunately GM is one of the biggest players (next to VW) in China.

I'm expecting the detailed global sales press release to be posted soon, if not today. If I see it, I'll post the specific sales data for this region (individual brand performance).

EDIT: I just found that they won't be releasing the global sales data until July 22. So, no update until then.

[jorgesalazar521@msn.com]

thats what i wanted----is it gm or is every car maker doing 50-70% growth rate?

[ILLICEMAN]

After Todays US Sales From Gm Will They Now Wake Up.fewer Dealers More Sales????????????????????????????????????????????? ??????????
We Can Only Hope.

[tgagneguam]

I, too, would like to see how GM's performance compares to the overall Chinese market.

Originally Posted by gardnet1

So will it be 2010 or 2011 when GM sells more vehicles in China than the US?

I know. Who woulda thunk it?

H1 US: 947,518 (-40.4%)
H1 China: 814,442 (38%)

Of course, two years from now, the U.S. market should be recovering, and presumably GM sales will follow the overall U.S. market, giving the U.S. divisions a chance to slow China's rise.