Total sales of GM's joint ventures in China surge 66.9 pc in 2009
GM and its joint ventures in China announced their sales in China increased 66.9 percent year-on-year in 2009 to a record high of 1,826,424 units.
Of that figure, 58.1 percent or 1,061,213 units, was contributed by SAIC-GM-Wuling Automobile Co. (SGMW), according to information GM China released in a statement. SGMW is a joint venture between GM, Shanghai Automotive Industry Corp. and Liuzhou Wuling Automotive Co. It builds the Wuling-badged minivans.
Sales of Shanghai GM rose 63.3 percent to 727,620 units in last year. The figure includes 447,011 units of Buick branded cars and 332,774 Chevrolet-badged cars. Shanghai GM is a joint venture between GM and SAIC.
GM set up a light commercial vehicle joint venture with China FAW Group Corp. in August. The company sold 34,510 light commercial vehicles in the four months after its establishment.
Kevin Wale, President and Managing Director of the GM China Group, attributed the bullish sales of GM's joint ventures in China mainly to their line-up of "modern, fuel-efficient and stylish products".
In 2009, GM and its joint ventures in China introduced several new and upgraded models, including the new Buick LaCROSSE and New Regal turbo series; the Chevrolet Cruze; and the new Cadillac SLS and SRX. Additionally, GM brought to China its latest technology such as the new 1.2-liter engine in the Chevrolet Spark and ECOTEC 1.6-liter DVVT engine in the Chevrolet Cruze.
Wale expects auto sales in China to continue to grow in 2010, but at a slower speed than in 2009. "Despite the sales records in 2009, it looks as if 2010 will be even stronger. The industry outlook is strong and we expect more growth, albeit at a somewhat slower pace," he said in the statement.