The Chinese subsidiaries of General Motors and Ford Motor Co. are on their way to recording sales increases in China this year after posting setting sales records in the world’s largest market for new vehicles during October.
GM and its joint ventures delivered an October-record 382,723 vehicles in China. Retail sales were up 11% year on year, marking the highest monthly sales growth in 2017.
Buick, Cadillac, Chevrolet and Baojun had their best ever October sales. SUVs remained the fastest-growing segment for GM, with sales surging 64% year over year.
Demand for Cadillac luxury vehicles rose 36% from a year earlier, making October the brand’s 20th consecutive month of double-digit growth. Cadillac sales totaled 17,018 units.
(GM will meet China EV production mandates without buying NEV credits. For more, Click Here.)
In the first 10 months of 2017, GM and its joint ventures in China delivered a record 3,130,862 units, which was up 2.2% from a year earlier. Ford is experiencing similar booming results.
“Both Lincoln and JMC set new records for October sales in China Lincoln continues to grow rapidly, with year to date sales up 85%,” said Jason Luo, chairman and chief executive officer of Ford China.
“Meanwhile, strong customer demand for Ford Mondeo and Ford Kuga continued in October, with both nameplates achieving double-digit growth compared to October 2010.”
(Click Here to see more about Ford’s new EV JV in China.)
Ford Motor Co. sales in China total nearly 106,000 vehicles in October, a 5% decrease compared with October 2016. The year-to-date sales for Ford Motor in China total is nearly 939,000 units, a 5% decrease year over year.
Monthly sales for Changan Ford Automobile (CAF) total nearly 74,000 vehicles, down 11% compared to October last year. The year-to-date sales for CAF total more than 640,000 vehicles, down 14% compared to the same period in 2016.
Lincoln also achieved an October sales record this month in China, according to Ford.
(To see more about the rise in imported vehicles from China, Click Here.)
Lincoln sedans experienced strong growth in October with sales up more than 180% compared to October 2016. Lincoln’s SUV trio, MKC, MKX and Navigator, experienced year-over-year growth of 3%, 12% and 56% respectively. Lincoln MKC also achieved the record monthly sales in October.