On October 10, General Motors announced that in the third quarter of this year, GM and its joint ventures in China sold over 426,000 vehicles, representing a 21% year-on-year decline. However, sales grew by 14.3% quarter-on-quarter, marking the highest quarter-on-quarter growth since Q3 2022.
In terms of powertrain types, GM's new energy vehicle (NEV) sales in the Chinese market, including pure electric and plug-in hybrid vehicles, exceeded 224,000 units in Q3, a staggering 60.7% year-on-year increase. NEVs accounted for 52.7% of GM's total sales in China for the quarter, surpassing internal combustion engine vehicle sales for the first time.
Looking at GM's brands, Buick sold more than 67,000 vehicles in China during Q3, with over 27,000 units from the Buick GL8 series. The plug-in hybrid version of the Buick GL8, launched in April, made up over 45% of the series' sales. The Buick GL8 series continues to lead the luxury SUV segment, becoming the first luxury SUV in China to surpass 2 million units in cumulative sales.
Cadillac delivered more than 21,000 units in China in Q3, with the CT5 luxury sedan maintaining strong sales, continuing to be the best-selling model in the Cadillac lineup. The newly launched Cadillac XT5 joined the brand's lineup in the third quarter, and early customer sales data indicates that the model will further strengthen Cadillac's position in the luxury SUV market.
During the same period, Chevrolet sold over 8,000 vehicles in China, with the Monza sedan showing a strong sales performance. Additionally, the Chevrolet Tahoe full-size SUV, a longtime best-seller in the U.S. market, officially launched in China in Q3.
In the third quarter, SAIC-GM-Wuling's sales in China surpassed 328,000 units. The Wuling Hongguang MINI EV and Wuling Bingo EV delivered over 70,000 and 60,000 units, respectively. As the Wuling and Baojun brands continue expanding their electric vehicle offerings, SAIC-GM-Wuling celebrated its 2 millionth NEV off the production line in August this year. Since its launch in August, the all-new Wuling Starlight S series SUV has sold over 9,000 units. Additionally, in September, Baojun launched its first intelligent long-range NEV SUV, the Yunhai. Both the Wuling Starlight S and Baojun Yunhai are available in pure electric and plug-in hybrid versions for consumers.
Steve Hill, GM's Senior Vice President and President of GM China, commented, "We are working hard to increase our sales and market share in China. We are also taking prudent actions to help GM's China business return to profitability by boosting sales and controlling costs."
