Matt Tsien, who heads up GM China, said the steady stream of new product will help the automaker increase sales this year.
With both companies benefiting from the growing interest of Chinese buyers in sport-utility vehicles, General Motors and its joint ventures eked out a small sales increase of 0.4% on an annual basis, while Ford Motor Co. posted a 2% sales jump.
GM said its sales increase was led by the XT5 SUV, Cadillac kept up its momentum with double-digit growth for the twelfth consecutive month. Sales of the Baojun 510 SUV exceeded 6,000 units following its launch on Feb. 20, and contributed to the Baojun brand’s record deliveries. Cadillac and Baojun set February delivery records as GM and its partners delivered 246,730 vehicles last month.
“The expanding SUV portfolio has helped us maintain our growth momentum,” said GM Executive Vice President and GM China President Matt Tsien. “The upcoming launch of the Chevrolet Equinox will further enhance our competitiveness in the fast-growing midsize SUV segment.”
SUVs, along with MPVs, accounted for nearly 50% of GM’s deliveries in February, he said. Cadillac expects sales in China to continue growing at a double-digit rate this year.
(Global auto sales to grow this year, IHS predicts. To find out what countries will lead it, Click Here.)
GM is launching 18 new and refreshed models this year in China to support continued growth in the company’s largest retail market. Half of the models being introduced under the Buick, Chevrolet, Cadillac, Baojun and Wuling brands will be SUVs or MPVs.
“We continue to see strong demands from Chinese customers for our three-row Edge SUV and luxurious Taurus large sedan, along with our performance line-up led by our iconic Mustang,” said Peter Fleet, Ford vice president of sales and marketing for Asia Pacific.
Ford's China chief Peter Fleet said he expects strong sales in the country this year based early results, particularly for Taurus and Mustang.
“We are also excited by the fantastic early response to the upcoming launch of four F-150 Raptor in China.”
(Click Here to see more about the January sales slump for GM and Ford in China.)
Ford and its joint ventures in China sold 64,641 vehicles in February, up 2% compared to February 2016. Year-to-date sales totaled 153,073 vehicles, a 21% decrease compared to the same time last year.
Monthly sales for Changan Ford Automobile, Ford’s chief partner in China, totaled 42,695 vehicles, down 12% compared to the same time last year. Year-to-date sales for CAF totaled 108,858 vehicles, down 32%.
CFA is rebuilding order banks in the first quarter after the strong close to 2016. Showroom traffic is improving and CFA expects 2017 to continue to strengthen with the launch key new vehicles such as the new EcoSport later this year.
(GM plans to launch 18 new models in China in 2017. Click Here for the story.)
Ford Edge sales increased 20% in February, compared to February 2016 and sales of the Ford Everest increased 34% in February