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General Motors' (GM) China Sales Surge 18% Y/Y in July

Zacks Equity Research
Updated

Share price of General Motors Company GM increased to $30.80 on Aug 5 after the automaker and its joint ventures in China reported an 18% year-over-year increase in sales for Jul 2016, taking the figure to 270,529 vehicles. The improved performance was driven by solid sales of the Cadillac and Buick brands, and strong performance of the Baojun brand.

With this, General Motors and its joint ventures in China recorded 2 million vehicle deliveries for 2016.

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 30% to 89,404 units in Jul 2016. The upside was driven by an increase in sales of the Excelle GT and Envision.

Sales of the Cadillac luxury vehicle brand witnessed a 90% rise to 8,757 units in July. The automaker also recorded strong demand − of more than 2,600 units − for the XT5 luxury crossover and ATS-L luxury sedans. Sales of the XTS luxury sedan surged 54% from the year-ago period.

The Baojun brand’s sales increased 61% year over year to 44,320 units in Jul 2016. Deliveries of the Baojun 730 MPV went up 23% year over year while sales of Baojun 560 SUV almost tripled.

Wuling sales went up 6% in China to 97,728 units last month. With this, the brand recorded an increase in sales for the second consecutive month. However, it was affected by a challenging market environment in the mini-commercial vehicle segment.

However, sales of Chevrolet decreased 15% to 30,287 units. Last month, the automaker launched an all-new Cruze passenger car. Cruze is the best-selling model of General Motors both in China and the global markets. The automaker sold 14,000 Cruze vehicles in July in China.

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 The Goodyear Tire & Rubber Company GT, Visteon Corporation VC and Gentex Corp. GNTX, each carrying a Zacks Rank #2 (Buy).

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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
VISTEON CORP (VC): Free Stock Analysis Report
 
GENTEX CORP (GNTX): Free Stock Analysis Report
 
GOODYEAR TIRE (GT): Free Stock Analysis Report
 
GENERAL MOTORS (GM): Free Stock Analysis Report
 
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