GM finds hard times in China — Sales slide 29% in second quarter

(July 9, 2024) General Motors and its two Chinese partners delivered 373,000 vehicles in China in the second quarter, a drop of 29 percent from a year earlier, as the Detroit automaker continues to struggle in a market shifting to electric vehicles and hybrids, according to Automotive News.

The sales slump largely reflected results at SAIC-GM, a joint venture with SAIC Motor Corp., which produces and markets vehicles for Cadillac, Chevrolet and Buick brands, according to figures GM China disclosed June 5. Cadillac’s second-quarter China sales skidded 47 percent to about 29,000 while Chevrolet deliveries tumbled 79 percent to about10,000.

Sales at Buick, GM’s biggest U.S. brand in China, slipped 40 percent to roughly 81,000.

GM also builds and distributes minibuses under the Wuling brand and entry-level cars for the Baojun marque at a partnership with SAIC and Wuling Automobile Industry Co. Combined sales at the Wuling and Baojun brands dropped 12 percent to about 252,000 in the second quarter.  In the first six months, deliveries at GM and its two local partnerships fell 17 percent to 814,000.

Source: Automotive News