On Sunday, the 3rd of May 2020, GM’s China joint venture with SAIC Motor Corp., said in a statement that the Detroit, Michigan-based United States’ No. 1 carmaker, General Motors’ China JV sales had witnessed a double-digit growth last month compared to the same time a year earlier, as the world’s second-largest economy appears to be recovering from the pandemic-led demand crunch.
Apart from that, according to the statement issued by General Motor’s joint venture with China’s SAIC Motor Corp. on Sunday (May 3rd), GM’s China venture, which manufactures Chevrolet, Cadillac and Buick vehicles, had reported a 13.6 per cent growth in sales in China last month on a year-on-year basis, while including the exported cars, the joint venture had sold off 111,155 units last month.
On top of that, another General Motors’ joint venture in China, the world’s largest auto market, with Guanxi Automobile Group and SAIC that recently had begun to develop high-end cars, had reported a 13.5 per cent jump in sales to 127,000 vehicles last month on an annualized basis.
However, the American multinational automaking industry tycoon, General Motors, which has been the second-biggest foreign investor in Chinese automotive market after Germany’s Volkswagen AG, had also added in its Sunday’s (May 3rd) statement that the sales of its China joint ventures had taken a nosedive of as much as 43.4 per cent over the first quarter of the year compared to the same timeline a year earlier.