GM China Jan-May sales up 34% to 671,148 units

Shanghai, June 2 (Gasgoo.com) GM's sales in China hit a record high in the first five months of this year, with sales rising 33.8% from a year earlier to 671,148 units, the company said in a statement today. In May alone, GM's China sales rose 75% y/y to a record 156,000 units.

Shanghai GM, General Motors' passenger car joint venture with China's auto giant SAIC Motor, saw its sales in the first five months rise 12% year on year (y/y) to 228,000 units. It sold 56,011 vehicles in May, up 50% y/y, overtaking its April's sales growth of 34.7% (55,245 units).

Sales were notably stronger at GM's joint venture with SAIC and Wuling Automobile Co., which primarily makes mini commercial vehicles. Sales at SAIC-GM-Wuling rose 49% in the first five months of this year to 442,000 units, according to GM, which has a 34% stake in the joint venture.

The joint venture has benefited from government stimulus measures implemented earlier this year, which are aimed at boosting small vehicle sales. GM would be "happy" to increase its 34% stake in the three-way commercial vehicle joint venture, said GM Asia President Nick Reilly.

Fresh from its bankruptcy protection filing in the U.S., GM sought today to assuage concerns in the Chinese market, reiterating that it plans to grow in China and its Asian operations are financially stable. "It is absolutely business as usual in China," said GM China President Kevin Wale.

GM will also continue to pursue a commercial vehicle partnership with China's second-largest automaker FAW Group Corp. Wale reiterated that GM China's main focus is to build vehicles for the local market.

The auto maker's plans to double sales in China to 2 million units and introduce 30 new or updated models over the next five years remain unchanged, wale said.