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GM China Sales Fell 29 Percent In Second Quarter 2024

GM China sales decreased 29 percent to 372,800 units during the second quarter of 2024. Sales decreased at BuickChevrolet, Cadillac, and Wuling brands while increasing at Baojun.

GM China Sales Fell 29 Percent In Second Quarter 2024

SAIC-GM Sales – Q2 2024

Second-quarter 2024 sales at SAIC-GM – GM’s primary joint venture in China responsible for Buick, Chevrolet, and Cadillac operations – decreased 49.94 percent to 120,000 units:

Buick sales decreased 40.3 percent to 81,300 units

  • The GL8 family strengthened its strong position in the MPV segment, with nearly 20,000 units sold
    • Product of the nameplate’s first plug-in hybrid variant joining in Q2
  • Buick Velite 6 EV sales more than tripled to more than 17,000 units

Chevrolet sales decreased 79.8 percent to 9,700 units

  • The Chevy Monza compact sedan remained the brand’s top seller in China
  • Refreshed 2025 Chevy Tahoe will be officially launched later this year in China
    • The successful American full-size SUV is coming to the Asian country through GM’s premium import platform, The Durant Guild

Cadillac sales decreased 47.7 percent to 29,000 units

  • Cadillac CT5 selling more than 16,000 units
    • The luxury sedan continued to be the brand’s top performer
  • All-new Cadillac Optiq was launched as the second Ultium-based Cadillac in China in Q2
    • The model adds to the EV momentum built by the Cadillac Lyriq in the luxury SUV segment

SAIC-GM-Wuling Sales – Q2 2024

Second-quarter 2024 sales at SAIC-GM-Wuling (SGMW) – GM’s other Chinese joint venture responsible for Wuling and Baojun brands – decreased 11.75 percent to 252,800 units:

Baojun sales increased 98.9 percent to 8,200 units

Wuling sales decreased 13.4 percent to 244,600 units

  • The Wuling Bingo EV and the Wuling Mini EV collectively sold approximately 78,000 units
  • All-new Wuling Starlight PHEV and BEV together reached nearly 20,000 units in sales

GM China’s sales decreased 18 percent to 813,800 units during the first six months of the 2024 calendar year.

Sales Results - Q2 2024 - China - Baojun

MODELQ2 2024 / Q2 2023Q2 2024Q2 2023YTD 2024 / YTD 2023 YTD 2024YTD 2023
BAOJUN TOTAL* 8,2000*14,000 0

Sales Results - Q2 2024 - China - Wuling

MODELQ2 2024 / Q2 2023Q2 2024Q2 2023YTD 2024 / YTD 2023 YTD 2024YTD 2023
WULING TOTAL-14.59% 244,600286,400-8.72%525,300 575,500

Sales Results - Q2 2024 - China - Chevrolet

MODELQ2 2024 / Q2 2023Q2 2024Q2 2023YTD 2024 / YTD 2023 YTD 2024YTD 2023
CHEVROLET TOTAL-79.79% 9,70048,000-65.74%28,200 82,300

Sales Results - Q2 2024 - China - Cadillac

MODELQ2 2024 / Q2 2023Q2 2024Q2 2023YTD 2024 / YTD 2023 YTD 2024YTD 2023
CADILLAC TOTAL-47.75% 29,00055,500-29.55%62,000 88,000

Sales Results - Q2 2024 - China - Buick

MODELQ2 2024 / Q2 2023Q2 2024Q2 2023YTD 2024 / YTD 2023 YTD 2024YTD 2023
BUICK TOTAL-40.31% 81,300136,200-24.00%184,300 242,500

Sales Results - Q2 2024 - China - GM Totals

BRANDQ2 2024 / Q2 2023Q2 2024Q2 2023YTD 2024 / YTD 2023 YTD 2024YTD 2023
BAOJUN TOTAL* 8,2000*14,000 0
WULING TOTAL-14.59% 244,600286,400-8.72%525,300 575,500
CHEVROLET TOTAL-79.79% 9,70048,000-65.74%28,200 82,300
CADILLAC TOTAL-47.75% 29,00055,500-29.55%62,000 88,000
BUICK TOTAL-40.31% 81,300136,200-24.00%184,300 242,500
GM CHINA TOTAL-29.14% 372,800526,100-17.66%813,800 988,300

About The Numbers

  • All percent change figures compared to GM China sales for Q2 2023, 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. GM bet big on China and on EVs, both of which I felt were misguided.

    It was quite predictable that as soon as GM taught the Chinese how to build cars, they’d push the foolish Americans aside in their market then come for our market. For the last few years, that appears to be what’s happening with GM’s Chinese operations hemorrhaging sales and profits and the Chinese building plants in Mexico with obvious plans to export into the US.

    On EVs, GM’s all-in strategy on something as unproven as the electric vehicle market was likewise foolish. Toyota took a wiser, slower approach. GM now has an array of EVs either for sale now or coming soon but they’ve sold so far in numbers that in GM’s past would’ve resulted in quick cancellation. Aside from trucks, their newest and nicest products are now EVs that at least half the market has no interest in.

    We’ll see how it all plays out but I wonder if GM might not be doing better now had they not prioritized China and EVs.

    Reply
    1. This comment on EVs is quite a bit misguided. GM’s EV numbers are growing rapidly, the only reason you can say they are small is because they are just launching.

      Reply
    2. I kept saying that but I kept getting swarms of downvotes for saying it. GM should have diversified their markets and made more competitive cars to hold onto their markets in the EU, India, Australia and so on. Not put all their eggs in Chinas basket and any leftovers that couldn’t fit in the US. Now, the chickens are coming home to roost as they keep losing market share in China, SAIC is done with them and are now gaining success with MG on the global scale.

      The one thing I see is that Wuling also is suffering. Which makes me wonder if its really a GM only problem or the whole market in China is hurting. China won’t release accurate numbers that may hurt the party image so we may never know.

      Reply
    3. There’s a reason why GM’s market capitalization is so low. It’s because Wall Street expects it to go bankrupt and out of business or merged in the next 10 to 15 years. They, as well as other Western, Korean, and, Japanese brands, were so stupid doing those joint ventures. And the Chinese will come to the US. The same people who turned their backs to American products and bought Japanese to be stylish, will do the same for the China products. I really don’t know what we’re supposed to do with those foreigners running around our cities and the unemployables that decided to commit crimes or live on welfare. Manufacturing in the US will be gone before long.

      Reply
      1. You know that GMs market cap (@ $46) is actually higher than Honda (@ $31), Nissan (@ $6.97), Subaru (@ $10.78), Ford (@ $12.96), Stellantis (@ $19.48), and sometimes neck-to-neck with Hyundai (currently @ $61)? They aren’t at Toyotas level (@ $205) but they aren’t doing that bad.

        Reply
  2. Is this Baojun a new brand? How is it they sold Zero cars this time period last year? Because if thats the case they are a new brand having an increase is meaningless. There’s only one way to go from the bottom and that way is up.

    Reply
    1. Not a new brand, been around since 2010, GMA just lacks data apparently.

      Reply
      1. I had my suspicion the brand wasn’t that new. I remember reading that several MG models sold in India are rebadged Baojuns. I just got confused as to why its at zero.

        Anyways a little side question. Why don’t they have numbers for MG? Does MG not sell in China and only serves as a badge for exported Baojuns and Wulings? I also don’t see Maxus there.

        Reply
  3. See, nobody wants boring, underpowered buicks or chevrolets. Time to reset. Blackwings for 0% financing should do the trick.

    Reply
    1. Because Burn Your Driveways (BYD) are better? Aside from being cheap (which I am a firm believer of “you get what you paid for”) and good at doubling as electric human barbecue grilles there is nothing appealing in their cars at all.

      Reply
      1. I never said that. However, obviously the chinese buyer thinks so.
        Have you driven a BYD?

        Reply
        1. Driven one no. Ridden in one yes and I am far from impressed. A Han. The interior quality is ok (certainly not German car good or premium Hyundai model good) but where I really want to see is the longevity of these cars. Just having government subsidies isn’t enough to make these cars so cheap. I am sure the cars don’t last as long and the mantra “You get what you paid for” will hold especially true here. The Chinese have gotten really good at initial quality to sell the product but the longevity and long term durability in many of their products don’t hold. And I’m sure these BYDs are no different.

          As for the Chinese buyer, take anything they release with a grain of salt. They have been known for buttering GDP numbers and their golden child will get no exception to that treatment. I seen the photos of dumped and abandoned brand new EVs in fields in China with the plastic wrapping still on the seats.

          BTW. Your SN is quite funny. I see you have a good sense of humor.

          Reply
  4. So is this a sign the China’s economy tanking, or a sign that China has extracted all off the technology it wants from GM and is now forcing GM out of the country? IIRC several EU car manufacturers saw the writing on the wall 3-5 years ago and pre-empted CCP.

    Reply

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