After long stretch of year-over-year sales increases that continued even as the Chinese economy began to show signs of slowing down, General Motors and its joint ventures in China reported a 0.4% drop in sales during April.
Domestic sales by SAIC-GM-Wuling were up 10.2% year on year to 139,041 units. But sales by Shanghai GM, GM’s other major venture, dropped 6.7% to 119,032 units.
GM offered no comment on the sales decline last month, which came amid signs that the rapid growth of the global auto industry is beginning to slow as China grapples with complex economic and environmental challenges. In addition, starting with April’s results, GM is reporting retail deliveries rather than wholesales in China. (more…)