Cadillac and Buick Fuel GM’s Steady Sales Growth in China
While still embroiled in legal tensions in the U.S. over its growing ignition switch recall debacle, General Motors (NYSE:GM) continues to add gains in its operations in China, last month putting up a 7.8 percent leap in sales, driven by strong performances from both Buick and Cadillac.
All told, GM moved 313,283 units in March in China, Bloomberg quoted a GM statement as saying. Buick was up 12 percent over March 2013, while Cadillac leapt an impressive 44 percent. That equals out to volumes of 78,803 units and 5,238 units, respectively. Chevrolet saw gains of 5.7 percent, to 56,036 units.
General Motors is committed to seeing 10 percent growth in the Chinese region this year in efforts to regain the leading title from Volkswagen AG (VLKAY.PK), which overtook GM as the largest automaker in China last year. The company has $11 billion earmarked for Chinese investments through 2016 to assist with that goal, Bloomberg reports.
General Motors is also targeting 100,000 sales of Cadillac vehicles in 2014, up from 50,000 last year, when deliveries rose 67 percent.