Shanghai GM Expected to Keep China Sales Champion SHANGHAI, Jul. 5, 2011 (July) -- -- Shanghai General Motors Co. (TSX:GMM.U) (NYSE:GM) , Ltd. is likely to keep its sales champion in China in 2011.
Shanghai General Motors announced on July 4 that the company sold 104472 units of the Buick, the Chevrolet and the Cadillac in June 2011. Its sales grew 27.5 percent year on year to 612072 units including 12067 exported ones in the first half of 2011, refreshing the first-half sales record of traditional passenger vehicle companies.
Chinese passenger car market showed sluggishness in May with the first negative year-on-year growth in 2011, according to the China Association of Automobile Manufacturers.
Shanghai Volkswagen's sales stood at 476828 units in the first five months, following 507600 units sold by Shanghai General Motors. Shanghai Volkswagen has not published its June sales data and it needs to sell 135244 additional units to catch up with Shanghai General Motors.
Shanghai General Motors expected to sell 1.15 million units in 2011, of which more than half has been achieved in the first half of 2011. Its sales reached 1.03 million units while Shanghai Volkswagen's sales hit 1 million units in 2010.