General Motors China
It seems General Motors has been able to successfully come out of a difficult patch of declining sales that continued through most part of the year 2015 in China. The last two reported months i.e. October and November have given GM China reason to smile as the combined retail deliveries rose 15 % and 14 % year on year respectively. In the nine months through September 2015, General Motors and its joint ventures sold a total of 2,492,428 vehicles in China at an average of 276,936 vehicles per month. But in October the sales figure was up at 327,037 and in November it was 346,671. During the first 11 months of 2015, retail sales by GM and its joint ventures in China increased 4.1 % on an annual basis to a record 3,166,791 …show more content…
The sales of the Excelle GT nameplate increased more than 100 % from last month on the back of the all-new Excelle GT launched earlier this year. Sales of the Verano nameplate increased by 60 % over last month, crossing the 9,000 unit mark capitalising on the strong presence of the recently launched Verano sport sedan reinforced by the Verano Hatchback and Verano GS launched in November.
The luxury brand Cadillac sold 7,935 units in November, up 57 % and registered a seventh consecutive double digit monthly growth. The growth was led by the ATS-L which jumped 182 % in November. The newly launched ATS-L-28T Fashion Edition with an eight-speed transmission hit the market on 26th November and is yet to report its first month of sales.
The third bestseller, Baojun sold 58,051 units in November, up 110 % from the same month last year. The company is planning to launch new models under this brand in 2016. These new models will have features like 1.5L turbocharged engines and automated transmissions to improve engine efficiency and user …show more content…
The company has been improving its product mix with recently launched models. The local government has slashed the purchase tax on vehicles with engines smaller than 1.6 litres from 10 % to 5 %. As a result 30 car lines sold by GM’s joint ventures in China are eligible for a 50 % vehicle purchase tax cut that runs from 1st October through the end of next year giving the customers more reasons to buy a GM made car. Therefore, GM’s prospects in China for year 2016 are extremely