GM Hops on Chinese Annual Sales Record Bandwagon
Sales data from General Motors’ (NYSE:GM) 2013 in China has come in, and on par with the industry overall, America’s largest automaker has reported record sales. Numbers came in 11.4 percent above 2012 figures. Between its Chinese joint venture partners — FAW Group and SAIC Motor Corp. — GM moved 3.16 million vehicles during the year.
December sales clocked in at 271,002 vehicles, an increase of 11.8 percent year-over-year, Reuters reports. That rise came after an equally strong November month, which saw sales gain 13.3 percent.
“GM maintained good growth momentum in our company’s largest market, despite a modest slowdown in demand for commercial vehicles,” Matt Tsien, president of GM China, said in a statement on the company’s website. ”We benefited from a broad portfolio of models and brands that are meeting the diverse needs of vehicle buyers across China.”
Around the industry, nearly every major manufacturer was able to put on significant gains in the region, which accounts for the world’s largest auto market. Despite GM’s superb growth in China, it is Volkswagen AG (VLKAY.PK) that is expected to take the throne as the sales leader, though final sales data had not been made available at the time of writing.
Toyota (NYSE:TM) and Honda (NYSE:HMC) also surprised, setting respective records for the region that has historically presented some problems due to political tensions between Japan and China. Despite these headwinds, the companies managed to add 9.2 percent and 26 percent to their year-on-year sales, respectively.
However, it was Ford (NYSE:F) that stole the show. Despite a late start in the country, Ford’s 2013 sales grew 49 percent year-over-year, as the company moved 935,813 units to beat out world-leading Toyota for a fifth-place finish in the country.