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GM China Sales Down One Percent In Fourth Quarter 2023

GM China sales decreased one percent to 568,850 units during the fourth quarter 2023. Sales decreased at BuickCadillac and Chevrolet, while increasing at Wuling and Baojun.

SAIC-GM Sales – Q4 2023

Fourth-quarter 2023 sales at SAIC-GM – GM’s primary joint venture in China responsible for Buick, Chevrolet and Cadillac operations – decreased 22.1 percent to 211,150 units.

Buick sales decreased 25.91 percent to 124,100 units

Buick Electra E5

Chevrolet sales decreased 27.44 percent to 36,500 units

  • The Chevy Monza remained the brand’s best-selling carline
  • The Chevy Blazer, the three-row model exclusive to the Chinese market, also posted strong growth momentum during the quarter

2024 Chevrolet Blazer

Cadillac sales decreased 4.98 percent to 50,550 units

  • The Cadillac CT5 luxury sedan sustained robust growth during the fourth quarter
    • The sedan strengthen its position as the brand’s top-selling model
  • Cadillac Lyriq is gradually increasing its popularity in the Chinese market

SAIC-GM-Wuling Sales – Q4 2023

Fourth-quarter 2023 sales at SAIC-GM-Wuling (SGMW) – GM’s other Chinese joint venture responsible for Wuling and Baojun brands – increased 17.3 percent to 357,700 units.

Baojun sales increased 84.81 percent to 14,600 units

  • For the first time in 2023, GM released total Baojun sales for both Q4 and the entire calendar year
  • Baojun sales grew substantially year-over-year thanks to its EV portfolio, which includes the all-new Baojun Yep and Baojun Yun Duo

Baojun EQ100 Yun Duo

Wuling sales increased 15.64 percent to 343,100 units

  • The Wuling Bingo EV led the growth in the Wuling EV portfolio with a high level of popularity
  • Sales of the all-new Wuling Starlight PHEV started at the end of November, topping 10,000 units in just over a month
  • Wuling strengthened its foothold in the passenger vehicle segment during the fourth quarter

Wuling Bingo EV

During the complete 2023 calendar year, GM China sales decreased 8.9 percent to 2,098,980 units.

Sales Results - Q4 2023 - China - Baojun

MODELQ4 2023 / Q4 2022Q4 2023Q4 2022YTD 2023 / YTD 2022 YTD 2023YTD 2022
BAOJUN TOTAL+84.81% 14,6007,900-33.20%33,000 49,400

Sales Results - Q4 2023 - China - Wuling

MODELQ4 2023 / Q4 2022Q4 2023Q4 2022YTD 2023 / YTD 2022 YTD 2023YTD 2022
WULING TOTAL+15.64% 343,100296,700-1.72%1,195,900 1,216,850

Sales Results - Q4 2023 - China - Chevrolet

MODELQ4 2023 / Q4 2022Q4 2023Q4 2022YTD 2023 / YTD 2022 YTD 2023YTD 2022
CHEVROLET TOTAL-27.44% 36,50050,300-14.90%168,830 198,400

Sales Results - Q4 2023 - China - Cadillac

MODELQ4 2023 / Q4 2022Q4 2023Q4 2022YTD 2023 / YTD 2022 YTD 2023YTD 2022
CADILLAC TOTAL-4.98% 50,55053,200-5.41%183,600 194,100

Sales Results - Q4 2023 - China - Buick

MODELQ4 2023 / Q4 2022Q4 2023Q4 2022YTD 2023 / YTD 2022 YTD 2023YTD 2022
BUICK TOTAL-25.91% 124,100167,500-19.66%517,650 644,350

Sales Results - Q4 2023 - China - GM Totals

BRANDQ4 2023 / Q4 2022Q4 2023Q4 2022YTD 2023 / YTD 2022 YTD 2023YTD 2022
BAOJUN TOTAL+84.81% 14,6007,900-33.20%33,000 49,400
WULING TOTAL+15.64% 343,100296,700-1.72%1,195,900 1,216,850
CHEVROLET TOTAL-27.44% 36,50050,300-14.90%168,830 198,400
CADILLAC TOTAL-4.98% 50,55053,200-5.41%183,600 194,100
BUICK TOTAL-25.91% 124,100167,500-19.66%517,650 644,350
GM CHINA TOTAL-1.17% 568,850575,600-8.86%2,098,980 2,303,100

About The Numbers

  • All percent change figures compared to GM China sales for Q4 2022, unless noted otherwise
  • GM China sales figures represent retail sales
  • GM does not provide individual sales performance of sales in China

Further Reading & Sales Reporting

Deivis is an engineer with a passion for cars and the global auto business. He is constantly investigating about GM's future products.

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Comments

  1. Saleswise, Cadillac is in a better position and not losing much market share compared to Buick and Chevy. So what is going on with Buick for them to be in the red for ’23 with -19.66%?

    Reply
    1. What’s happening is increased nationalism and increased anti-western sentiment in the mainland. Which also shows in how the two Chinese brands mentioned above were the only ones with sales increases. This is only going to get worse for GM as US-Sino relations deteriorate and China makes a play for Taiwan so they better be thinking about diversifying their markets and not put all their eggs in China’s basket. Again, I am not saying they should abandon China, but they can’t be taking this market for granted and just abandon all other markets for it.

      Reply
      1. Nailed it.

        Reply
  2. GM over-relies on China and will suffer as domestic brands continue to gain traction. Quitting Europe as Opel was breaking even was dumb, did not help stock. Accounting did not take into account Opel vehicle sold as Buick–no license fee to Russelheim for cars or platform technology. Europe has embraced EVs and Opel would have been ideal for GM’s current EVs.
    Lastly, GM would be far smaller without Wurling which is owned in a 3way partnership and not very profitable.

    Reply

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