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General Motors' China Sales Rise 5.3% in First-Half 2016

Zacks Equity Research
Updated

General Motors Company GM and its joint ventures in China reported a 5.3% year-over-year increase in sales in the first half of 2016, taking the figure to 1,810,476 vehicles. The improved performance was driven by solid sales recorded by the Cadillac and Buick brands, along with rising demand for the Baojun entry-level passenger car brand as well as strong performance of the Wuling brand.

General Motors and its joint ventures in China also recorded a solid performance for the month of June, with sales rising 11.2% to 273,563 vehicles. The Buick, Cadillac and Baojun brands recorded the highest sales for June.

Sales Performance of Brands

General Motors offers a wide range of vehicles – from passenger to commercial – and varied brands in China. The different brands are Baojun, Buick, Cadillac, Chevrolet, Jiefang and Wuling.

The Buick brand’s sales in China rose 10% to 86,054 units in Jun 2016. The upside was driven by an increase in sales of the Excelle GT to over 26,000 units. Demand for the Envision SUV went up 27% to more than 14,000 units.

Sales of the Cadillac luxury vehicle brand witnessed a 34% rise to 9,552 units in June. The automaker also recorded strong demand − of more than 2,000 units − for the XTS and ATS-L luxury sedans and XT5 luxury crossover.

The Baojun brand’s sales more than doubled year over year to 43,249 units in Jun 2016. Deliveries of both the Baojun 730 MPV and Baojun 560 SUV were more than 20,000 units.

Wuling sales went up 8.1% in China to 99,017 units last month. The brand’s sales benefited from rising demand for the Hong Guang MPV family, which sold over 30,000 units. Sales of the Rong Guang V minivan also increased 20% from the year-ago period.

However, sales of Chevrolet decreased 25% to 35,648 units. Sales of the new flagship sedan, the Malibu XL, surged 46% month over month. Also, the automaker plans to launch an all-new Cruze passenger car in the second quarter.

GENERAL MOTORS Price

GENERAL MOTORS Price | GENERAL MOTORS Quote

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General Motors – a Zacks Rank #3 (Hold) stock – is a leading global automotive company. It has 11 joint ventures and 2 wholly owned foreign enterprises, with more than 58,000 employees in China.

Stocks that Warrant a Look

Some better-ranked automobile stocks include Commercial Vehicle Group Inc. CVGI, Spartan Motors Inc. SPAR and Unique Fabricating, Inc. UFAB, all sporting a Zacks Rank #1 (Strong Buy).

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GENERAL MOTORS (GM): Free Stock Analysis Report
 
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