GM's April Sales in China Rise 12%
SHANGHAI (TheStreet) -- GM (GM) said its 2012 Chinese sales have reached 1 million units, the earliest ever it has reached that milestone.
April sales by GM and its affiliates in China rose 11.7% to 227,217 vehicles, bringing the total for the first four months of the year to 972,369 units, up 9.4% from a year earlier. On Monday, Kevin Wale, president and managing director of the GM China group, declared: "GM and our joint ventures today sold our one millionth vehicle in China this year.
|Growth in China may be slowing, but GM and Toyota reported double-digit sales gains there in April.|
"This is the sixth time and the earliest in our history that we have reached this important milestone in China," Wale said, in a prepared statement. "It has put us on track to once again set a new sales mark for the year as a whole."
Meanwhile, Toyota (TM) said its April sales in China rose 68% to about 82,000 vehicles. Toyota's China sales slumped in April 2011 following the March earthquake and tsunami in Japan, which disrupted production.
For the first four months of the year, Toyota sales rose 14.3% to about 293,000 units, while GM sales rose 9.4% to about 972,000 units. In the U.S., GM sales for the first four months fell 1% to 821,707 units.
During April, Shanghai GM's domestic sales were down 2.2% to 94,101 units, but SAIC-GM-Wuling's sales were up 27 % to 127,362 units.
Buick sales rose 1.7% to 54,013 units, as sales of the basic Excelle (sold as the Verano in the U.S.) rose 29% to 23,179. Sales of the Excelle XT and GT rose 18% to 11,981 units. Chevrolet sales fell 6% to 41,555, while Cadillac sales fell 20% to 2,048.
During the first quarter, overall China vehicle sales fell 3.4% to 4.8 million units.
-- Written by Ted Reed in Charlotte, N.C.
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