General Motors and its joint ventures sold 282,446 vehicles in China last month, setting a new October record.
Sales were up 12.2% on an annual basis, as domestic sales by GM’s Shanghai GM and SAIC-GM-Wuling manufacturing joint ventures as well as its major brands reached new highs for the month.
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Shanghai GM sold 132,954 vehicles in China during October, a year-on-year increase of 13%. SAIC-GM-Wuling’s domestic sales rose 10.7% to 143,693 units. FAW-GM sold 5,407 vehicles in the domestic market, a jump of 27%.
During the first 10 months of 2013 as a whole, sales by GM and its joint ventures in China increased 11.2% on an annual basis to a record 2,594,864 units.
The Chinese car market is continuing to grow this year, helped by the government’s efforts to bolster the economy, such as its loose monetary policy and “mini stimulus” measures.
LMC Automotive expects the China’s passenger vehicle market to grow by 13.8% this year to 16.2m units. The Chinese light vehicle market as a whole is forecast at 21.3m units for 2013.
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