GM’s 2020 sales drop as pandemic hits market

BEIJING — General Motors’ vehicle sales in China fell 6.2 percent in 2020, as the automaker suffered a prolonged sales slowdown in the world’s biggest auto market.

GM, China’s second-biggest foreign automaker, delivered 2.9 million vehicles in the country last year, the company said Wednesday, for a third straight decline in annual sales.

But sales have been recovering in the second half of last year, up 12 percent between July and September and 14 percent in the final three months.

GM has a Shanghai-based joint venture with SAIC Motor Corp., in which the Buick, Chevrolet and Cadillac vehicle brands are made. It also has another Liuzhou-based venture, with SAIC and Guangxi Automobile Group, in which they make no-frills minivans and have started to make higher-end cars.

Sales of its Buick brand grew 4.1 percent on the year and Wuling rose 8.8 percent, the statement said. Luxury brand Cadillac’s sales increased 7.9 percent.

Sales of GM’s more affordable Baojun brand dropped 34 percent last year, while sales of its mass-market Chevrolet tumbled 30 percent.

GM had delivered 3.09 million vehicles in China in 2019 and 3.65 million vehicles in 2018.

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Section Page News – Automotive News

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