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GM Sales in China Jump in April as Ford Falls

SUVs, MPVs, luxury vehicles still drawing buyers.

by on May.06, 2016

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

General Motors and its Chinese partners said its sales increased 7.5% during April from the same month last year, while Ford Motor Co. reported an 11% decline for the same period.

GM said the company’s sales increase was focused on new segments and sport utility vehicles, which were up 107% from the same period a year earlier, while Cadillac luxury vehicle sales increased 13% in April from the previous year.

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So far, in the first four months of 2016, GM and its joint ventures’ deliveries increased 1.7% year over year to a record 1,241,631 units. (more…)

GM China President Predicts Growth in Future

Tsien expects popularity of SUVs, EVs to help drive sales higher.

by on Apr.28, 2016

GM China President Matt Tsien told reporters in Detroit today that he expects the Chinese market to continue to grow for the automaker.

China now accounts for roughly 37% of General Motors’ global sales, making it the automaker’s single largest market in the world, Matt Tsien, president of General Motors China, said during a meeting with reporters at GM headquarters in Detroit.

Tsien said it is difficult to predict if that percentage will continue to grow in next several years. “You have to know what the rest of the world is going to do to answer that,” he said.

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But GM expects the Chinese market to expand from the 25 million units sold last year to 30 million units in 2020. “That’s like adding a market the size of Australia every year for the next five years,” he said. (more…)

Celebration Low-Key as Beijing Auto Show Opens

Chinese sales plunge, prices and profits under pressure.

by on Apr.25, 2016

Chinese biggest auto show of the year opened to international media on Monday.

Dozens of cars, trucks, concepts and crossovers are making their debut at the Beijing Auto Show today, everything from locally made battery-electric vehicles to Ford’s big F-150 Raptor pickup.

But the tone at the event is decidedly lower key than in the past, and for obvious reasons. This year marks the first time since the Chinese automotive market shifted into high gear at the beginning of the Millennium that sales are expected to grow at a single-digit pace.

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And, after years of struggling to keep up with booming demand, even as they spent tens of billions of dollars opening up new plants, automakers now face the very real possibility that China could soon face a very different situation, something more common in Europe and North America: over-capacity.

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Ford, GM Report Better-Than-Expected March Sales in China

Ford sales increase while GM posts small drop as SUV sales reign supreme.

by on Apr.08, 2016

Sport-utes continue to be the savior of sales in China for General Motors and Ford.

General Motors and Ford Motor Co. succeeded in holding their ground or growing sales in China in the face of some major headwinds with help of strong showings by their luxury brands, Cadillac and Lincoln.

Ford reported 2016 as first quarter sales in China increased 14% compared to the same period last year, with 314,454 vehicles sold. Sales of Ford-branded vehicles reached 114,788 in March, up 5% compared with March 2015.

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Lincoln has also had a strong start to the year with 5,484 vehicles sold in the first quarter, a three-fold increase compared with the same time in 2015. Lincoln’s strong performance in the first quarter was supported by the growing number of dealerships, which reached 37 by the end of March, and Chinese customers’ positive reception of Lincoln SUVs, Ford officials noted. (more…)

GM, Ford Set China Sales Records in January

Buick leads GM to new monthly benchmark.

by on Feb.08, 2016

The Buick Envision helped General Motors set a new January sales record in China.

Both General Motors and Ford set January sales records in China despite the continuing concerns about the Chinese economy.

In January, retail sales by General Motors and its joint ventures in China were up 7.3% year over year to a record 421,023 vehicles, as Buick posted its best-ever monthly sales, GM officials said. Demand was given a boost by the upcoming Chinese New Year holiday in early February.

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Buick sales in January grew 39% from a year earlier to 138,907 units. Monthly sales of the brand exceeded 130,000 units for the first time, led by the Excelle GT and Envision SUV. Sales of the Envision more than doubled last month year over year. (more…)

Buick Moving Ahead with Plans to Bring Chinese Car to US

Compact crossover could go on sale by late 2016.

by on Nov.13, 2015

The Buick Envision is already on sale in China.

General Motors’ Buick division is moving forward on plans to bring a Chinese-made vehicle to the U.S. market.

A version of the Buick Envision already on sale in China, the compact crossover is expected to go on sale here by late 2016, according to a Wall Street Journal report. That would make GM only the second manufacturer to import a vehicle from China.

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The booming Asian market – which is just rebounding from an unusual slump – is the largest outlet in the world for Buick, and GM now sells more vehicles in China than in the U.S. But as the market slows from years of high double-digit growth, the Detroit maker is looking to find other opportunities for the production capacity it has set up in Shanghai and other cities.

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Driven by U.S. Demand, GM Nets $1.4 billion in Q3

Earnings before taxes hit record. But numbers could cause problems.

by on Oct.21, 2015

GM's Detroit headquarters, the Renaissance Center.

Surging demand in its home market helped General Motors deliver a strong third-quarter profit, offsetting the impact of weakening sales in China.

The largest of the Detroit automakers said Wednesday morning that it earned $1.4 billion in net income, or $0.84 a share. That compared with $1.4 billion, or $0.81 a share a year ago. On an EBIT, or earnings before interest and tax, basis GM had an adjusted profit of $3.1 billion, and an adjusted profit margin of 8.0% percent.

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The strong numbers could generate new interest on Wall Street, at least GM officials are hoping. The maker’s stock has languished in recent months, around the same price set during its November 2010 IPO. But there could be a downside. The strong third quarter could motivate bargainers for the United Auto Workers Union who are trying to hammer out a new four-year contract with GM.

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GM Plan to Import Chinese-Made Buick Envision Could Create Problems

UAW calls move “tone-deaf” as it prepares strike vote.

by on Aug.18, 2015

Buick would like to fill a hole in its SUV line-up with the Chinese-made Envision.

The UAW wants to head off plans by General Motors to begin importing a new crossover-utility vehicle from China.

While the Detroit automaker has not made a formal announcement, it is widely expected to begin importing a version of the Buick Envision it produces at a plant near Beijing. It could fill an open niche in the expanding Buick crossover line-up, a spokesman confirmed, though GM might alternatively move to produce the Envision at a U.S. plant.

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The possibility of importing its first Chinese-made product to the U.S. isn’t sitting well with the United Auto Workers Union, which said such a move would be “tone-deaf.” The union is currently negotiating a new four-year contract with GM and is asking its workers to authorize a strike should talks fail to reach a settlement by the September 14th deadline.

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GM Beats Q2 Forecast with Nearly $1.2 Bil Net Income

EBIT-adjusted earnings are best for any quarter since 2009 bankruptcy.

by on Jul.23, 2015

General Motors CEO Mary Barra remains upbeat about the coming months despite problems in China.

Despite being hit with a $1.1 billion special charge, General Motors managed to deliver a second-quarter profit of nearly $1.2 billion, or $0.67 a share – its biggest three-month profit since emerging from bankruptcy in July 2009 – with strong demand for its North American trucks helping fuel the strong performance.

Factoring in one-time charges equal to $0.62 a share, GM handily outperformed the Wall Street consensus forecast of $1.08 per share. And the second-quarter numbers compared with the modest $190 million, or $0.11, GM reported for the April-June 2014 numbers.

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“The first two quarters of the year were strong as we fully capitalized on a robust North American industry and maintained our strength in China, despite the challenging conditions in that market,” GM CEO Mary Barra said in a statement. “We said our goal was to improve our earnings and margins this year, and we are on plan.

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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.

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