Shanghai GM sales first break through 600,000-unit mark

Shanghai August 26 (Gasgoo.com) Shanghai GM, a joint venture between General Motors Corp and SAIC Motor Corp, registered 80,279 units in July sales, up 42% from a year earlier, with cumulative sales totaling 601,008 units in the first eight months, up 58% year-on-year, media reported Thursday.

The company is the first among the domestic automakers to break the 600,000-unit sales barrier in less than eight months this year.

As of August 18, the Buick brand has sold 319,666 units, followed by the Chevrolet brand and Cadillac brand that has sold 272,182 units and 9,110 units respectively.

Due to a severe slowdown in the Chinese auto market, many carmakers have lowered their sales target for 2010. Automakers are concerned about the increasing inventory, but an industry insider said Shanghai GM will likely accomplish its annual sales target ahead of schedule.