GM China Surprises With Strong October Sales
In China, rumors of empty showrooms during the important Chinese October holidays made the rounds. It must have been different showrooms than GM’s. GM China announced a fresh October sales record of 220,412 units. October sales across all brands of GM China were up 10.4 percent.
The surprising part is that SAIC-GM-Wuling jumped 19.2 percent year on year to a new record for the month of 111,957 units. It was this joint venture that had dragged GM China’s numbers down in the previous months.
Shanghai GM’s sales rose 4.3 percent year on year to a new October high of 103,309 units.
During October, 2011 sales by GM in China surpassed 2 million, reaching 2,113,274 units.
General Motors wants to double its sales to 5 million vehicles per year in China by 2015, GM China chief Kevin Wale told Reuters today. Wale expects the Chinese passenger car market to grow about 10 percent this year, and the overall market to gain 3-5 percent.
The GM results bode well for the Chinese market. Let’s see what the official numbers say when they are announced by the CAAM.