GM’s China Sales Rise 14.3% in October
According to Michael Dunne, a Hong Kong-based automotive analyst, “Things are not solid, especially in the foreign policy area, and growth has slowed.” With 251,812 units sold last month, the entire sales figure for the first 10 months of the year has risen by 10.5%, reaching a total of 2.3-million sales.
This equates to a 14.4% market share, in the third quarter of the year, which means that the company made $689-million, in pre-tax profit in its International Operations unit, which includes the Chinese market, as well.
Shanghai GM reported a 13.8% increase in sales, in October, while the GM-owned Wuling brand recorded a rise of 17%. Buick sales were also up, but by a more modest 7.7%, while Cadillac managed to sell 19.5% more cars in the same time frame.
Story via The Detroit Free Press