GM’s third quarter China vehicle sales down 17.5 per cent

BEIJING: General Motors Co’s July to September vehicle sales in China fell 17.5 per cent, as the US automaker was hurt by a slowing economy amid the Sino-US trade war and by heightened competition in its key mid-priced SUV segment.
GM delivered 689,531 vehicles in China in the third quarter this year, according to a company statement. The drop for the quarter ended September 30 marks the fifth straight quarterly sales decline for GM in China, the world’s biggest auto market.
It delivered 2.26 million vehicles in the first nine months this year, according to Reuters calculation.
As GM and Ford Motor Co’s China sales extend declines, US car companies’ share of total China passenger vehicles sales fell to 9.5 per cent in the first eight months of this year from 10.7 per cent in the year-ago period, according to the China Association of Automobile Manufacturers (CAAM). Over the same period, German car makers’ share has risen to 23.8 per cent from 21.6 per cent and Japanese auto makers’ to 21.7per cent from 18.3 per cent. — Reuters