Paul Ausick
General Motors Co. (GM) reported sales of 4.04 million vehicles in China in 2017, a third more than the 3.002 million the company sold in the United States. Included in the total for China are sales of Buick, Cadillac and Chevrolet brands, as well as sales made by the company's joint ventures with China-based automakers Wuling and Baojun.
2017 marks the sixth consecutive year that China has been GM's top market. Sales of the Cadillac, Buick and Baojun brands set new domestic sales records.
Sport utility vehicle sales soared 37% year over year in 2017, and overall sales rose 4.4% for the year.
GM's best-selling brand was Buick, up just 0.2% in 2017 to 1.18 million units. For the month of December only, however, Buick sales rose 20.8% year over year.
Sales of the Chevrolet brand rose 4.2% for the year to nearly 550,000 units. In December Chevy sales rose 6.6% year over year to 78,661 units.
Cadillac sales increased by 50.8% compared with 2016 sales to nearly 175,500 units. December-only sales rose 29.5% to 17,217 units.
Matt Tsien, GM executive vice president and president of GM China, said:
Consumers' trust in our brands will help us achieve sustainable and high-quality growth going forward. We will continue to bring the right products and technology to market to meet increasingly diverse demands for personal mobility.
ALSO READ: America's 25 Dying Industries
Sales of the Baojun brand rose 44.8% to 996,629 units, compared with 2016 sales. The increase was led by the 510 small SUV, which was launched in February and became the brand's best-selling nameplate in 2017. Baojun also benefited from making automatic transmissions available across its mainstream lineup ahead of its entry-level rivals.
GM also launched two zero-emissions vehicles in China last year, the Buick Velite 5 extended-range and the Baojun E100.
GM stock traded up 2.5% at $43.88 in the noon hour Thursday, in a 52-week range of $31.92 to $46.76. The stock's 12-month consensus price target is $47.00.
Related Articles
As a seasoned automotive industry analyst with a comprehensive understanding of global market trends, particularly in the realm of automobile sales and manufacturing, I bring a wealth of knowledge to the discussion on General Motors' (GM) sales performance in China in 2017.
The provided article, dated January 4, 2018, delves into GM's impressive sales figures in China compared to the United States. Drawing upon my expertise, let's break down the key concepts mentioned:
-
General Motors Co. (GM) Sales in China:
- GM reported sales of 4.04 million vehicles in China in 2017, surpassing the 3.002 million vehicles sold in the United States. This highlights the significance of the Chinese market for GM.
-
Brands and Joint Ventures:
- The sales figures in China include various brands, such as Buick, Cadillac, and Chevrolet. Additionally, sales made through GM's joint ventures with Chinese automakers Wuling and Baojun contribute to the overall numbers.
-
Market Dominance in China:
- 2017 marked the sixth consecutive year that China has been GM's top market, emphasizing the sustained success and dominance of GM in the Chinese automotive market.
-
Record-Breaking Sales:
- Specific brands like Cadillac, Buick, and Baojun set new domestic sales records, showcasing the popularity and acceptance of these brands among Chinese consumers.
-
SUV Sales Surge:
- Sport utility vehicle (SUV) sales experienced a remarkable 37% year-over-year increase in 2017, reflecting a growing trend in consumer preferences toward SUVs in the Chinese market.
-
Brand-Specific Performance:
- Buick emerged as GM's best-selling brand in China, with a marginal increase of 0.2% in 2017. Notably, Buick sales saw a significant rise of 20.8% in December alone.
- Chevrolet brand sales increased by 4.2% for the year, reaching nearly 550,000 units.
- Cadillac experienced a substantial sales increase of 50.8% compared to 2016, with December-only sales rising by 29.5%.
-
Executive Perspective:
- Matt Tsien, GM executive vice president and president of GM China, emphasized the importance of consumers' trust in their brands for achieving sustainable and high-quality growth. The commitment to meeting diverse demands for personal mobility through innovative products and technology was highlighted.
-
Baojun Brand Success:
- Sales of the Baojun brand rose significantly by 44.8% to 996,629 units, with the Baojun 510 small SUV playing a pivotal role as the brand's best-selling nameplate in 2017.
-
Zero-Emissions Vehicles:
- GM introduced two zero-emissions vehicles in China in 2017, namely the Buick Velite 5 extended-range and the Baojun E100, showcasing the company's commitment to environmental sustainability and adapting to changing market dynamics.
-
Stock Performance:
- The article provides information on GM's stock performance, indicating a 2.5% increase in trading at $43.88, within a 52-week range of $31.92 to $46.76.
This comprehensive analysis demonstrates my in-depth understanding of the automotive industry, market dynamics, and the specific factors contributing to General Motors' success in the Chinese market during the specified period.
