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GM's 2020 China sales see third annual drop on pandemic

GM's 2020 China sales see third annual drop on pandemic

Mubasher: General Motors Co’s vehicle sales in China dropped by 6.2% in 2020, attributed to a prolonged sales slowdown in the world’s biggest auto market, Reuters reported on Wednesday.

GM, China’s second-biggest foreign automaker, delivered 2.9 million vehicles in the country in 2020, for a third straight decline in yearly sales.

However, sales have been recovering in the second half (H2) of last year, up by 12% between July and September and by 14% in the final three months.

Moreover, sales of GM’s Buick brand grew by 4% on the year, Wuling rose by 9%, and Luxury brand Cadillac’s sales increased by 8%.

On the other hand, sales of GM’s more affordable Baojun brand fell by 33% last year, while sales of its mass-market Chevrolet tumbled by 30%.

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