SAIC-GM-Wuling Jan-May sales rise 49% y/y

Shanghai, June 3 (Gasgoo.com) SAIC-GM-Wuling, General Motors' mini-commercial vehicle venture in China, sold 442,000 vehicles in the first five months this year, up 49% year on year, Gasgoo.com said, citing a statement of GM China.

The Jan-May sales at Shanghai GM, a passenger auto-making joint venture between GM and SAIC, were roughly half these of its peer, rising 12% from the same period last year to 228,000 units.

SAIC-GM-Wuling sold more than 100,000 vehicles in May, compared with 95,544 units in April. Comparison with sales of May 2008 is not provided yet. Shanghai GM sold 56,011 vehicles in May, up more than 50% year on year.

Sales have been notably stronger at SAIC-GM-Wuling, GM's joint venture with SAIC Motor and Wuling Automobile Co., which makes mini commercial vehicles of Chevrolet and Wuling brands. The venture has benefited from government stimulus measures implemented earlier this year for 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 earlier this week.

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 May alone, it China sales rose 75% year on year to a record 156,000 units.

In late April, SAIC-GM-Wuling raised its vehicle sales goal for 2009 to at least 800,000 units, up from previously targeted 750,000 units. At the sales growth rate of the first five months, this target could be lifted higher.