One sometimes wonders where the UK car market would have been right now if it had not been for cheap cars. Despite the fact that interest rates are the lowest in years, we have become used to news headlines proclaiming yet another drop in car sales in the British market.
The story in China could not have been more different. That country has become the worlds largest car market and overseas manufacturers are vying to get a slice of the cake. One of them is General Motors, which is busy writing a success record in China second to none. The company has just released sales figures for October and it has been another record month.
General Motors sold 220,412 cars in China last month, which is 10.4% more than during the same month last year. Shanghai GM experienced a 4.3% increase in demand, while SAIC-GM-Wuling recorded a staggering 19.2% sales increase over October last year.
For readers in the UK, with a total car market of less than 2 million per year, it might be nearly unbelievable that GM has already sold more than 2 million cars in China over the past year ± 2,113,274 to be exact.
SAIC-GM contributed 1,052,196 units to this figure and Shanghai GM 1,009,536.
Individual brand, such as Cadillac, Chevrolet and Buick, all set new sales records in October. The most popular individual model was the Buick Excelle with sales of 56,200, followed by the Chevrolet Cruze, of which 50,450 units were sold.
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