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Posts Tagged ‘auto sales china’

GM Enjoys Another Robust Sales Month in China

Automaker rides demand for SUVs to 16.9% increase.

by on Jun.03, 2016

GM Executive Vice President and GM China President Matt Tsien said GM was selling SUVs and MPVs in big numbers in China.

General Motors sales skidded in the U.S. in May, but continued to climb in the critical Chinese market.

Despite the slower than expected growth of the Chinese economy, GM reported its joint ventures increased 16.9% with the delivery of 295,282 vehicles across China. The Buick, Cadillac and Baojun brands and SUV lineup reached all-time highs for deliveries as well in May, according to GM China president Matt Tsien.

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“GM vehicle deliveries in China achieved robust growth in May,” said Tsien. “While demand for our SUVs, MPVs and luxury vehicles remained strong, we also saw impressive demand for passenger car models such as the Buick Excelle GT.” (more…)

China’s Car Market Hits a Speed Bump

Plunging stocks sap consumer spending.

by on Jul.09, 2015

A Chevy Cruze in China.

When trade industry officials forecast that the Chinese automotive market would grow by about 7% to 8% this year much of the rest of the industry turned green with envy. But for China, that was a severe retrenchment after years of double-digit growth.

Now, it seems, even that forecast may have been too optimistic, however. Car sales began to slow down earlier this year, along with the rest of the country’s economy. But demand in recent weeks has taken a sharp plunge as the Chinese stock market shows signs of a full-fledged meltdown.

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Though it remains the world’s largest new vehicle market, year-over-year sales fell 3.2% in June, according to the China Passenger Car Association, to a total of 1.43 million. That marked the country’s first down month since February 2013.


Ford, GM Continue Torrid Sales Pace in China

Makers set May record; Ford expects to hit 1 million units in 2014.

by on Jun.09, 2014

With cars like the Focus selling well, Ford expects to surpass 1 million in sales in China this year.

General Motors and Ford continue to roll up big sales totals in China, setting sales records during May.

Ford China sales grew 32% in May with 93,323 and Ford now expects to sell more than 1 million vehicles in China for the first time ever during 2014. Year-to-date sales were up 39%, with 461,473 wholesales sold compared to 332,308 wholesales sold in the first five months of 2013, Ford said.

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“Our sales are a direct reflection of our continued commitment to bring the best of Ford to China with a great lineup of Ford cars and utilities that offer high quality, great fuel efficiency, world class safety and smart technologies,” said John Lawler, chairman and chief executive officer, Ford Motor China. (more…)

New Boss for GM China

Tsien to be first Asian exec to oversee booming Chinese operations.

by on Dec.02, 2013

Matt Tsien becomes the first Asian chief of GM's huge Chinese operations.

Locked in a battle for domination in what has become the world’s largest automotive market, General Motors is shaking up its top Chinese management team.

Significantly, Matthew Tsien becomes the first executive of Asian heritage to run GM’s rapidly expanding empire in China – which generated more sales last year than the maker’s core U.S. operations.

A 37-year GM veteran, Tsien has clocked a wide range of assignments in markets as diverse as Germany and Australia, but he has also put in a significant amount of time in China where he has most recently been serving as vice president of Planning and Program Management for GM China and GM Consolidated International Operations and Strategic Alliances for China.

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In his new role, Tsien will succeed Bob Socia, who has announced he will retire on January 1.  Tsien will become a member of the GM Executive Operations Committee, reporting to General Motors Chairman and CEO Dan Akerson, which underscores the importance GM puts on the China market.


GM Continues Setting Sales Records in China

Upsurge defies uncertainty in world’s largest auto market.

by on Apr.03, 2013

The new Cadillac XTS has been gaining momentum since its recent launch in China.

General Motors continues to score big in China, its sales increasing by double digits again during March despite worrisome signs of trouble in what is now the world’s largest automotive market.

GM reported its Chinese joint ventures reached all-time highs for not just March but for the entire first quarter of 2013. Sales last month surged 12.6% on an annual basis to 290,538 units. It was the second-highest monthly sales total in GM’s history in China.

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For the quarter, GM’s sales in China jumped to 816,373 units, an increase of 9.6% from the same period last year, the company reported, putting GM on track to sell more than 3 million units in China this year. That seems on track to be another new record.


GM China Sales Top 2 Million

Despite market slowdown, maker heading for new record.

by on Oct.18, 2011

GM China President Kevin Wales.

General Motors has sold more than 2 million vehicles in China for the second year in a row – and despite the slight slowdown in the market – now the world’s largest – the U.S. maker appears set to post another yearly sales record.

The American auto giant reached the 2-million-unit-mark more than two weeks ahead of the date last year when it became the first global automaker to sell 2 million vehicles in China, GM reported

“This is another outstanding achievement for GM in the world’s largest vehicle market,” said Kevin Wale, president and managing director of the GM China Group. “Our key brands and many of our key products have continued to experience record demand despite intense competition.”

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GM’s SAIC-GM-Wuling joint venture, which is targeted at customers in smaller cities and rural China, sold its 1 millionth vehicle in China this year on Oct. 14. In addition, demand in China this year for the Buick brand has risen 24%, with Cadillac up 73% and Chevrolet posting an 18% increase.

China is now the second-largest global market for Chevrolet – which has been pressing hard to expand outside its traditional base in North and South America.  Sales surged 411% since the brand was introduced in China in 2005 – this year expecting to post another record after reaching 544,000 in 2010.


Is China Boom About to Go Bust?

Sales pace tumbles – threatening industry plans.

by on Mar.09, 2011

The Chevy Volt on display at Shanghai's Expo 2010.

When Toyota President Akio Toyoda outlined his company’s new “Global Vision,” which calls for sales to grow 20%, to 10 million annually, China was expected to play a key role, eventually accounting for 15% of the maker’s worldwide volume. (Click Here for more.)

And Toyota isn’t alone.  Indeed, it’s hard to find a single manufacturer that isn’t betting on China, which is today the world’s largest new car market and which has posted growth, in recent years, that has at times approached triple digits.

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But could the boom ready to go bust?  With some analysts worrying about a bubble in the Chinese economy – and with some smog and traffic-snarled cities, notably including Beijing, taking steps to reduce vehicle sales – might car sales be peaking?  The latest numbers certainly raise some flags.