SAIC-GM-Wuling March sales grow 38% y/y

Shanghai, April 8 (Gasgoo.com) SAIC-GM-Wuling Automobile Co, General Motors' mini-commercial vehicle joint venture in China, sold 90,950 vehicles in March, up 38% from a year earlier, said xinhuanet.com today. The growth shows that China's auto sector incentives have lured buyers back.

In the first three months, the venture achieved sales of 246,293 units, up 34.5% year on year. Sales of its flagship minivan Wuling Sunshine reached 147,674 units in the first quarter, while the Chevrolet Spark sold 15,311 units, up 59% from a year earlier.

SAIC-GM-Wuling, with two manufacturing bases in Liuzhou and Qingdao, saw its 2008 China sales hit 650,508 units, which made it the country's largest mini-van maker for three straight years, with 45% market share. General Motors holds 34% stake in the joint venture of mini commercial vehicles.

The Chinese government has released a slew of stimulus policies to boost its auto industry since the beginning of this year, including halving the sales tax on small cars to 5%, subsidizing rural residents buying light trucks and minivans, all of which have speeded the sales growth of SAIC-GM-Wuling in the first quarter.

To build on its sales success of 2008 and the first three month this year, SAIC-GM-Wuling is expected to exceed its sales target of 750,000 vehicles in 2009.