General Motors Says its Sales in China Hit Record High in April

GM sold 227,217 vehicles in April, up 11.7% from the same month last year, according to the automaker. GM also registered a sales record for the month of March.

General Motors Co. (IW 500: 5) on Monday said it saw record sales in China in April, despite a broader slowdown in the world's biggest car market.

GM sold 227,217 vehicles in April, up 11.7% from the same month last year, according to the automaker. GM also registered a sales record for the month of March.

For the first four months of the year, GM's China sales rose 9.4% year-on-year to 972,369 units.

GM China Group President Kevin Wale said sales will top 1 million vehicles in May, the earliest they have reached that landmark figure in China.

"It has put us on track to once again set a new sales mark for the year as a whole," Wale said a news release.

GM sold more than 2.5 million vehicles in China last year.

Foreign automakers such as GM have been able to ride out an overall slowdown in China's auto market, the world's largest since 2009, helped by name recognition and perceptions of higher quality.

China's nationwide sales rose just 2.5% to 18.51 million units in 2011, compared with an annual increase of more than 32% in 2010.

The slowdown came after the government rolled back purchasing incentives and some cities imposed tighter restrictions on car numbers to ease chronic traffic congestion and pollution.
Vehicle sales in China fell 3.4 percent year-on-year to 4.79 million units in the first three months of this year, according to an industry group.

But many of the world's carmakers remain confident of steady growth in the Asian nation, where three out of every four new car purchases are by first-time buyers.

Copyright Agence France-Presse, 2012

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