General Motors Corp posted a slower sales growth in China for the first half of this year from a year earlier, a victim of weaker market demand as well as keen competition.
The world's biggest car maker boosted its half-year sales in China by 12.7 percent to a record high of 590,126 vehicles from a year earlier, according to its statement yesterday. That compares with a growth rate of 19 percent last year and 14.2 percent rise for national passenger car sales in the first half of this year.
GM said the strength of its Chevrolet brand helped it to increase sales in the world's second largest auto market. Sales of Chevrolet vehicles, especially the Loval compact sedan and the new Epica mid-class sedan, jumped 34.6 percent in the first half to 109,131 units. Both models are made by Shanghai GM, a joint venture with Shanghai Automotive Industry Corp.
Shanghai GM's flagship Buick brand also said its first half sales reached 146,321 units, including 90,604 Buick Excelle models after launching a revamped version earlier this year. Sales of the Cadillac luxury brand hit 3,285 units in the first half of the year.
Analysts attributed GM's lower sales growth to the lack of new models while rivals Volkswagen and Toyota were competitive with their latest models.
(Shanghai Daily July 8, 2008)
