Today, GM did something highly unusual: It abandoned all spin and said that sales in China were down pretty much across the board in February: “General Motors and its joint ventures sold 215,070 vehicles in China during February. Sales were down 10.6 percent from the same month last year due to the week-long Lunar New Year holiday falling in February this year.” We at TTAC understand.
|GM China February 2013|
|Black: GM data. Blue: Calculated from historical GM data|
GM also did the right and sensible thing, namely to add January and February up. For the first two months, GM’s sales in China are up 7.9 percent, which is pretty good. The number would even be better, would results not continue to be dragged down by a still laggardly Wuling. Shanghai GM’s sales, i.e. those of Buick, Chevrolet, and Cadillac, are up 12.1 percent.
The Baojun brand was launched in February 2012, which makes that Jan/Feb comparison looks a little too rosy.
All in all, a good start, and a good early indicator of the health of the Chinese auto market, which had been shrouded in Chinese New Year fog for months.