SAIC Motor, the joint venture partner of Volkswagen and General Motors, reported June sales rose 10% from a year ago, helped by solid demand for Buick and Volkswagen models.
The company said that it sold 317,682 vehicles in June, up from 288,863 units a year earlier and 304,423 in May. This takes first-half sales to more than 2m units, a 13% year-on-year increase. The company has previously said that it wants to sell 4m units this year.
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The boost in Buick sales, up 45% month-on-month and VW sales, up 11.4%, buck the trend in China this year where sales have stagnated after Beijing removed most of its stimulus measures, including rebates for farmers trading in old, inefficient vehicles for more fuel efficient ones.
That hurt small vehicles, including SAIC’s tie-up with GM in south China which reported a 9.9% drop in June sales, with year-to-date sales down 4.9%.
GM JVs enjoy record first half
