General Motors Company (GM) Surges Ahead of Toyota Motor Corporation (ADR) (TM) in China

Page 1 of 2

So far so good for General Motors Company (NYSE:GM) in China in 2013: General Motors Company (NYSE:GM) announced on Tuesday that its sales in the first two months of the year were up 7.9%.

That’s a respectable gain that comes even as key Japanese rivals like Toyota Motor Corporation (ADR) (NYSE:TM) have reported declines, suggesting that General Motors Company (NYSE:GM), powered by solid results for its Buick and Chevrolet brands, could be gaining ground in the world’s largest auto market.

General Motors Company (NYSE:GM)GM gains ground as Japanese rivals struggle
Not so long ago, the big Japanese automakers seemed poised for success in China, but nationalist feelings sparked by a territorial dispute between China and Japan last year led to sharp declines in sales for Toyota, Honda Motor Co Ltd (ADR) (NYSE:HMC), and Nissan (OTCBB:NSANY).

Toyota’s 2013 sales through February were down 13.3% from year-ago totals, suggesting that the Japanese giant – the leader in global sales in 2012 – still has work to do to repair its reputation in China. Honda and Nissan saw 4.1% and 14.1% declines over the same period, respectively.

Automakers doing business in China prefer to report January and February sales as a single combined total because of China’s week-long New Year’s celebrations, which sometimes fall in January and sometimes in February. Strictly speaking, nearly all automakers saw big increases in January and year-over-year declines in February this year – because those celebrations fell in February in 2013 and in January in 2012.

Meanwhile, General Motors Company (NYSE:GM), and in particular its Shanghai GM joint venture, which sells Buick, Chevrolet, and Cadillac models, has continued its steady growth trajectory so far in 2013.

Continued progress for GM’s key brands
Shanghai GM’s sales were up 12.4% to 255,243 units in the first two months of 2013, a good gain and a record for the period. Highlights included strong sales for the upscale compact Buick Excelle XT hatchback and GT sedan, which saw sales rise more than 20% in February despite the holiday week. The Excelle GT and XT, China-only models that are closely related to the Buick Verano compact sold here in the U.S., have been consistently strong sellers for General Motors Company (NYSE:GM) since their introduction in 2010.

Sales of the Chevrolet Malibu more than doubled in February, GM said, and the brand also saw a 22% gain for its Sail in February. The Sail, the first Chevy designed in and built specifically for the Chinese market, is an entry-level subcompact car that has been one of China’s best-sellers since its introduction in 2010.

Page 1 of 2
blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

The 10 Countries with the Highest Suicide Rates

The 10 Most Technologically Advanced Countries in the World

The 10 Safest Countries in the World to Live in Peace

The 10 Top Selling Smartphones in the World 2014

The 12 Biggest Shopping Centers in the World

The 10 Friendliest Countries in the World

Qihoo 360 Technology Co Ltd (QIHU), Actavis plc (ACT), Yahoo! Inc. (YHOO) Among 20 Long Ideas from Sohn Canada

The 10 Laziest Countries in the World

The 10 Most Polluted Countries in the World

The 10 Most Dangerous Cities in America 2014

The Top 10 Gold Producing Countries in the World

The 10 Tallest Buildings in the World

The 10 Richest Stand Up Comedians in the World

The 10 Fattest Countries in the World

The 5 Best Summer Jobs for Teens

The 10 Most Religious Countries in the World Keeping the Faith

The 10 Most Educated Countries in the World

The 10 Most Popular Cell Phones in the World

The 10 Drunkest Countries in the World

The 10 Most Expensive Private Schools in the World

The 10 Smallest Countries in the World

Walking Dead Season 5 Spoilers You’ll Wish You Didn’t Know

The 10 Poorest Countries in the World

The 10 Greenest Countries in the World

The Top 10 Countries with the Highest Population in the World

The 10 Most Visited Countries in the World

The Top 10 Star Wars Characters in the Iconic Series

The 10 Most Expensive Android Phones in the World

5 Reasons Why The Illuminati Is Real and a Threat to Society

The 6 Scariest Halloween Costumes Ever Screamed At

The 4 Biggest Hedge Fund Managers in the World Today

The 15 Most Densely Populated Countries in the World

The 10 Biggest Tea Drinking Countries in the World

Top 6 Ways to Improve Your Checkout Process and Close Sales

The 5 Most Profitable Online Businesses You Can Start Today

The 20 Most Profitable Hospitals in the US

The 5 Most Profitable Home Businesses to Start

The 7 Teams that Will Win the Stanley Cup in 2015

The Top 10 Most Expensive Digital Cameras to Snap Stunning Shots With

The 10 Highest Quality Fast Food Restaurants In America Today

The 8 Best Halloween Decorating Ideas to Spook Up Your House

10 Marvel Women that Should Get a Movie Right Now

The 20 Best Remixes of Popular Songs that Will Make You Forget the Originals

7 Most Expensive Cities in the World

5 Least Expensive Cities in the World

10 Celebrities Who Believe In Scientology

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!