The US-based manufacturer announced a few days ago that its Chinese operations grew 55.6 percent in the first nine months of the year as compared to the same period of 2008. It delivered a total of 1,292,549 units and reached a market share of 13.4 points, together with its local joint ventures.
“Sales continue to surpass forecasts as nearly all market segments experience growth,” according to GM China Group President and Managing Director Kevin Wale. “A major market driving force this year has been first-time car buyers in China’s second-, third- and fourth-tier cities."
“Great products always drive great sales results,” said Wale. “At GM, we are delighted with the success of our new range of world-class models. In the compact sector, the new Chevrolet Cruze has sold more than 48,000 units in just six months. The Buick New Regal has sold 63,954 units since its launch last December. The new Buick LaCrosse set a new standard for the upper-medium sector, with sales of more than 19,400 units in its first three months on the market.”
Just as said, analysts are forecasting a drop in 2010 in China, mostly because the lack of government incentives that supported the auto sector this year.
"Auto sales rely heavily on policies, just like the stock market. It's hard to predict sales outlook for next year as we don't know whether the government would renew the tax cuts for small cars after they expired at the year end," Qin Xuwe, Orient Securities analyst was quoted as saying by Autonews. "If they indeed cut sales tax on mid-range sedans next year as many had hoped, it could be another bumper year ahead."
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