Featured Company News - GM Records Impressive Sales in China for September 2017 with 6.6% Rise in Deliveries
LONDON, UK / ACCESSWIRE / October 13, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for General Motors Co. (NYSE: GM), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=GM. General Motors and its joint ventures (JVs) in China announced on October 11, 2017, that the Company has recorded the highest ever sale of its vehicles in China for September 2017 with 6.6% rise in deliveries. The Company has sold 366,305 vehicles in China in September 2017. China continues to be an important market for the Company in terms of sales. GM and its JVs in China have already delivered approximately 2.75 million vehicles within the first nine months of FY17. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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The Company revealed that the higher sales were seen across all its brands. The sales of Buick, Cadillac, and Baojun vehicles reached an all-time high in September 2017. Sales of Chevrolet vehicles saw an 11% growth as compared to its sales in the same period in 2016. However, SUVs continued to be the favorites in China and showed a 63% rise in sales on a year-on-year basis.
Brand-Wise Sales Performance for September 2017
Cadillac -Cadillac vehicles recorded delivery of 17,248 units in September 2017 which is a 38% increase on an annual basis. The brand is showing a double-digit growth for the 19th consecutive month. Cadillac's luxury SUV XT5 remains the best-selling model and recorded sales of nearly 6,300 units in September 2017. This was an increase of 49% in sales compared to the sales of the brand for the same period in 2016. Cadillac's prestige sedan CT6 saw a sale of nearly 1,200 unit for September 2017, which is a 65% rise in sales on an annual basis
Buick -Buick vehicles recorded sales of 114,500 units on a year-on-year basis, which is a 5.7% increase. Buick's sedan Excelle GT is the brand's top-selling model with over 44,000 units delivered in September 2017. Buick's GL8 MPV vehicles doubled their sales in September 2017 compared to sales in September 2016. The demand for new-generation GL8 and GL8 Avenir models were the main reasons for the continued demand. Buick's The Envision midsize SUV model saw sales of over 20,000 units, while Buick's premium sedan LaCrosse sold over 9,800 units in September 2017. This was a 35% rise in sales compared to the sales of the model in the same period in 2016.
Chevrolet -The Company's Chevrolet brand recorded deliveries of over 57,757 units in September 2017. Chevrolet's sedan Cavalier maintained its position as the brand's best-selling model with over 20,000 units being delivered in September 2017. Chevrolet's flagship sedan Malibu recorded sales of nearly 14,000 units. This was a rise of 52% compared to the sales of the model in September 2016. Chevrolet's global SUV Equinox recorded deliveries of nearly 6,200 units, which was a 32% rise as compared to deliveries in August 2017.
Baojun -Baojun recorded sales of 94,718 units in September 2017, which is a 51% rise in sales on a year-on-year basis. Baojun's 510 SUV was the best-selling model of the brand and recorded delivery of over 39,700 units in September 2017. This is the model's sixth consecutive month with the highest sales. Baojun's 310 wagon, which was launched in July 2017, recorded sales of nearly 13,000 units in September 2017. The model has recorded deliveries of over 31,000 units since its launch. Baojun's first battery electric vehicle, the Baojun E100, recorded sales of over 1,500 units in September 2017. The sales were mainly in its launch market, Liuzhou, Guangxi.
Wuling -A total of 82,082 Wuling vehicles were delivered in September 2017. Out of the total, Wuling's The Rong Guang family recorded sales of nearly 38,000 units and Wuling's Hong Guang model recorded sales of over 35,600 units.
About GM China
General Motors Co. (NYSE: GM), one of the world's largest automakers and has been in existence since 1908. China is an important market for GM and the Company has been in the country for more than 9 decades. GM China includes 10 JVs and two wholly owned foreign enterprises. The Company employs more than 58,000 people in China. GM's Passenger cars and commercial vehicles that are sold in China include Baojun, Buick, Cadillac, Chevrolet, Jiefang, and Wuling brands.
Last Close Stock Review
At the closing bell, on Thursday, October 12, 2017, General Motors' stock fell 1.28%, ending the trading session at $44.89. A total volume of 15.71 million shares have exchanged hands, which was higher than the 3-month average volume of 11.82 million shares. The Company's stock price skyrocketed 23.49% in the last three months, 34.44% in the past six months, and 41.70% in the previous twelve months. Moreover, the stock soared 28.85% since the start of the year. The stock is trading at a PE ratio of 7.12 and has a dividend yield of 3.39%. The stock currently has a market cap of $65.31 billion.
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