GM Sells Record 9.8 Million Vehicles in 2015
January 21 2016 - 9:40AM
Dow Jones News
General Motors Co. said Thursday that it sold 9.8 million
vehicles in 2015, notching a modest annual increase amid strong
conditions in its home market and continued growth in China.
The results represent a third consecutive year of record global
sales for the Detroit auto maker, with last year's growth partially
attributable to a change in the way it reports China sales. North
American deliveries rose 6% to 3.6 million cars, trucks and
crossovers, and it also delivered 3.6 million vehicles in China, an
increase of 5% from 2014.
While GM had reported it sold 9.9 million vehicles in 2014, that
number reflected the way it used to account for volume in China.
Last year, the auto maker switched from reporting wholesales to
reporting retail sales in China, GM's biggest market -- global
sales were 0.2% higher in 2015 compared with 2014 on that
basis.
GM likely remains behind Toyota Motor Corp. and Volkswagen AG in
the global sales chase. Toyota has said its 2015 sales likely
exceeded 10 million, while Volkswagen reported a rare decline to
9.9 million following the September disclosure of an
emissions-testing scheme that damaged its reputation and forced the
company to take some vehicles off the market.
Among the brightest spots for GM is SUV deliveries in China,
which more than doubled after the launch of new models such as the
Baojun 560 and the Buick Envision, which will be imported to the
U.S. this year. Retail sales in the U.S. increased as buyers
responded to low gas prices, cheap financing and a steady economy,
but the Detroit auto maker's market share in its home market fell
slightly.
GM, like other auto makers, experienced volume declines in South
America. It also pulled out of the Russian market in 2015,
affecting results in a Europe market that otherwise was a pocket of
growth for GM.
Chevrolet total sales increased 5% in the U.S., 3% in Canada and
18% in Mexico. Buick set a sales record for the third consecutive
year thanks to strong sales in China and crossover sales in the
U.S. Buick sales were up 6% in North America.
Cadillac sales were up 8% on growth in China and strong demand
for the SRX crossover and the Escalade SUV in the U.S.
Write to Gautham Nagesh at gautham.nagesh@wsj.com
(END) Dow Jones Newswires
January 21, 2016 09:25 ET (14:25 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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