GM Sales Up 19.9% in China - Analyst Blog
March 05 2014 - 3:00PM
Zacks
General Motors Company (GM) and its joint
ventures witnessed a 19.9% year-over-year increase in sales in
China to 257,770 units in Feb 2014. The record high sales were
driven by high demand for most major brands of the automaker.
China is the largest market of General Motors. The diverse
product portfolio of the company helps sustain strong growth in the
nation.
The healthy sales can be attributed to domestic sales of 109,889
vehicles by Shanghai GM, up 8.8%. SAIC-GM-Wuling achieved sales of
142,620 units in China, reflecting a 29.4% year-over-year increase.
Meanwhile, the domestic sales of FAW-GM improved 38.7% to 5,092
vehicles.
Sales of General Motors’ Buick brand surged 13% to 59,164 units
in China, driven by high demand for the original Excelle family as
well as Excelle XT and GT.
However, Chevrolet witnessed a 0.1% year-over-year decline in
sales to 46,347 vehicles. The Cruze and Sail models of the brand
generated strong sales.
Meanwhile, China sales for General Motors’ Cadillac brand surged
90.8% to 4,378 units during the month. The XTS luxury sedan
generated strong sales for the brand.
Further, the Wuling, Hong Guang and Baojun brands had sales of
137,018, 65,129 and 5,602 units, respectively, during February.
The increase in sales in China bodes well for the automaker as
sales in the U.S. are declining due to severe weather conditions.
General Motors recorded 222,104 vehicle sales in February,
declining 1% year over year. Other large automakers like
Ford Motor Co. (F), Honda Motor Co.,
Ltd. (HMC), and Toyota Motor Corp. (TM)
also witnessed a year-on-year dip in the U.S. sales in Feb
2014.
General Motors currently carries a Zacks Rank #5 (Strong
Sell).
FORD MOTOR CO (F): Free Stock Analysis Report
GENERAL MOTORS (GM): Free Stock Analysis Report
HONDA MOTOR (HMC): Free Stock Analysis Report
TOYOTA MOTOR CP (TM): Free Stock Analysis Report
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