General Motors and its joint ventures sold 245,690 new vehicles in China in February 2016, down 9.3 percent from February 2015. The automaker attributes the drop to slow seasonal sales during and after the Chinese New Year holiday, which came earlier this year.
“This year we will continue to improve our product mix to meet the fast-changing customer demand,” said GM Executive Vice President and GM China President Matt Tsien. “We are on track to execute our product launch plans. New models, including the Cadillac CT6 and Chevrolet Malibu XL, are expected to add to our growth momentum.”
Domestic sales at Shanghai GM — The General’s primary joint venture in China responsible for Chevrolet, Buick, and Cadillac vehicle sales — were a mixed bag during the month, with Chevrolet and Cadillac sales decreasing and Buick sales growing.
Buick sales in China increased 16 percent on an annual basis to 70,764 units — setting the record for the month.
The growth was led by the Excelle GT as well as the Envision. In fact, deliveries of the compact crossover nearly doubled las month from a year ago.
Cadillac sales in China declined 16 percent on an annual basis to 4,766 units as the brand phases out the importation of the popular SRX crossover into China in preparation for its replacement — the all-new Cadillac XT5.
In addition, deliveries in the first two months of the 2016 calendar year set a new record and the brand has launched its all-new, range-topping Cadillac CT6 prestige luxury sedan on January 27th. It is the first model being manufactured at the new Cadillac plant in Shanghai, and marks Cadillac’s first foray into the modern prestige-luxury sedan segment currently occupied by the likes of the BMW 7 Series, Mercedes-Benz S-Class, and Audi A8/S8.
Chevrolet sales in China declined 48 percent on an annual basis to 27,349 units. The automaker stated that the drop is “primarily due to continued contraction of the small-car segment, which affected the Chevrolet Sail.”
To counter the trend, the brand launched its new flagship sedan, the Malibu XL, at the end of February. The vehicle is analogous to the 2016 Chevy Malibu sold in the North American market.
Sales at GM’s other primary joint venture were a similarly mixed bag of results.
Baojun delivered 39,348 units in China, an increase of 52 percent on an annual basis and a February record.
Deliveries of Wuling light commercial vehicles in the Chinese domestic market totaled 103,438 units in February, 18 percent lower on a year-over-year basis.
The brand “was impacted by seasonal factors around the Chinese New Year holiday and continued contraction of the mini-commercial vehicle market.”
About The Figures
Starting with April 2015 sales results, GM began reporting retail sales rather than wholesales in China. All numbers above represent retail sales.