Shanghai GM says Q1 car sales up 12.9% m/m

Apr. 6, 2009 (China Knowledge) - Shanghai General Motors Co Ltd (Shanghai GM), the joint venture between General Motors (GM) and Shanghai Automotive Industry Corp (SAIC), said on Thursday that its car sales in the first quarter of 2009 increased 12.9% from the fourth quarter of last year to 117,000 units.

Its monthly sales in March hit 46,054 units. Its Buick brand remained the best-selling one, with 32,362 units being sold.

The venture last year experienced its first year-on-year decline of 8.3% in car sales, with 458,642 units being sold.

As the largest overseas auto maker in China, GM earlier raised its sales growth forecast in the country for 2009. It expects its car sales there to grow 5% to 10% as compared to the previous less than 3%.
 
GM and its partners are optimistic about the Chinese market and its future development plans in the world's second-largest auto market, said the U.S. auto maker.

The company said it would continue to introduce world-class products and services to the country to meet local customer demand. In addition, it will roll out five or more new models there under brands of Buick and Chevrolet over the next one or two years.