18/01/2021

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GM’s 2020 China sales fall for third straight year as pandemic hits market

BEIJING — Standard Motors’ car product sales in China fell six.2 p.c in 2020, as...

BEIJING — Standard Motors’ car product sales in China fell six.2 p.c in 2020, as the automaker endured a prolonged product sales slowdown in the world’s greatest car market.

GM, China’s second-greatest foreign automaker, shipped 2.9 million vehicles in the country final 12 months, the company explained Wednesday, for a third straight drop in annual product sales.

But product sales have been recovering in the second half of final 12 months, up 12 p.c between July and September and 14 p.c in the last three months.

GM has a Shanghai-primarily based joint undertaking with SAIC Motor Corp., in which the Buick, Chevrolet and Cadillac car brands are built. It also has an additional Liuzhou-primarily based undertaking, with SAIC and Guangxi Car Group, in which they make no-frills minivans and have began to make bigger-end automobiles.