Despite worries over a substantial drop of the Chinese stock market and new competition from domestic brands, General Motors and its joint ventures reported record retail sales of 1,719,202 vehicles during the first six months of the year in China.
Demand was up 4.4% from the first half of 2014. The increase was driven primarily by GM’s improved mix of SUVs and MPVs. While the news of an increase was positive, it fell short of the 10.4% increase in the first half of 2014.
“An evolving product mix is essential for meeting the diverse demand in China, given its position as the world’s largest vehicle market,” said GM Executive Vice President and GM China President Matt Tsien. “We will continue to add more new and refreshed models in the second half to keep up our growth momentum.” (more…)