GM's China sales drop 5% in second quarter, underperforms industry recovery
General Motors Co's vehicle sales in China dropped 5.3% between April and June from the corresponding period last year, underperforming the industry average amid a recovery from the coronavirus fallout on the world's biggest auto market.
FILE PHOTO: The GM logo is seen at the General Motors plant in Sao Jose dos Campos, Brazil, January 22, 2019. REUTERS/Roosevelt Cassio/File PhotoBEIJING (Reuters) - General Motors Co’s (GM.N) vehicle sales in China dropped 5.3% between April and June from the corresponding period last year, underperforming the industry average amid a recovery from the coronavirus fallout on the world’s biggest auto market.
China’s overall figure, which includes passenger and commercial vehicles, rose 4.4% in April and 14.5% in May, said the China Association of Automobile Manufacturers (CAAM), adding that it expected auto sales to grow 11% in June.GM, China’s second-biggest foreign automaker after Volkswagen AG (
), delivered 713,600 vehicles in the country in the second quarter, the company said in a statement, after reporting a drop of 43% in sales in the first quarter, due to the pandemic.GM has a Shanghai-based joint venture in China with SAIC Motor Corp (
600104.SS) which makes Buick, Chevrolet and Cadillac vehicles. It has another venture, SGMW, with SAIC and Guangxi Automobile Group that produces no-frills minivans and has started making higher-end cars.Sales of GM’s mass-market brand Buick rose 7.8% while Chevrolet dropped 27.7% for the latest quarter. Sales of premium brand Cadillac fell 12%, GM said in a statement on Friday.
Sales of the no-frills brand Wuling grew 9.7%, but those of Baojun tumbled 30.7%.Reporting by Yilei Sun and Brenda Goh; Editing by Shri Navaratnam and Clarence Fernandez Read more: Reuters Top News »
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Crooked trump wants to cut entire diplomat with CH. Xi wants trump make his day. Of course, the well known bone spurred chicken president will have to return to lay eggs for breakfast in beijing. Karma hunts 🙄 Anyone know what type of bird this is and is it holding a shark? myrtlebeach 📽 Kelly Burbage
Beijing Orders Four U.S. Media Outlets to Provide Information on China OperationsBeijing is requiring four U.S. media outlets to disclose detailed information about their China operations, in the latest move in a tit-for-tat media battle with the Trump administration. Just do what China does. Deny everything, outright lie and just continue doing it. USA should expel all Chinese spies working in all scientific fields and stealing technology from country USA China USDT Tit for bat battle 😃
China hits back at US with new media restrictions as tensions riseThe Trump administration and Beijing government have been engaged in several rounds of tit-for-tat targeting of each other's media outlets. China is now demanding that four US news organizations declare details of their finances and staffing in the country njmike731 seems fair . . how much Chinese cashola did it take to buy CNN ? huh/ huh? REMINDER: Trump is owned by China and America is weaker than ever under his corruption and incompetence. Don't be confused...please make the simplest choice stand or kneel build or destroy security or riot law or crime work or unemployment prosperity or frustration justice or evil
Chinese Apps Get the China Treatment in IndiaU.S. internet giants have been locked out of China for years. Increasingly, Chinese apps may find themselves locked out of the rest of the world. Good. I don't get why ppl wear mask if they leave the nose open. I don't think its a problem actually.
Hong Kong Police Make First Arrests Under New Security Law Imposed By ChinaAny person taking part in 'secessionist activities,' such as shouting slogans or holding up banners urging for the city’s independence, is in violation o... This is such bullshit The timing during the pandemic for this decreet seems to be perfect. Chinese laws are more like hissy fits. Any attempt to rationalize them is ridiculous let alone serious consideration. A bully state throwing hissy fits is all!
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