General Motors (GM) has showcased impressive performance in the second quarter of CY2023, with sales surpassing 526,000 vehicles in China, reflecting a notable 9% year-over-year growth. Notably, this period marked a new high for GM’s new energy vehicles (NEVs), with over 115,000 units sold within the quarter. This surge follows the brand’s Q1 CY2023 achievement of 462,000 vehicles sold in China.
A robust presence in the mainstream market is underscored by the prominent role of Buick Electra E5 and E4, leading the charge in GM’s market strategy. As the automotive landscape diversifies, GM is steadfast in fulfilling its commitment to introduce over 20 new and refreshed products in China throughout 2023. Of these, more than one-third will be NEVs, catering to the evolving preferences of China’s discerning consumers.
In the latter half of the year, GM will spotlight the global Ultium platform and the local GSEV platform, each unveiling fresh products. With a focus on competitive pricing, cutting-edge technologies, and alluring aesthetics, these platforms are poised to enhance the distinctiveness of GM’s electric vehicle offerings.
GM’s dedication to electrification is evident through its ambitious manufacturing capacity targets in China. By 2025, the brand aims to produce over 1 million electric vehicles annually. Already boasting Ultium Centers in Shanghai and Wuhan, GM is set to introduce a third center in Yantai, contributing to the expedited rollout of locally produced Ultium-based EVs.
The dynamic partnership between Wuling and Baojun solidified their combined position, achieving remarkable sales of more than 286,000 units, accounting for 54% of the total deliveries in Q2 CY2023. Remarkably, the combined EV sales crossed the 100,000-unit threshold, highlighting their dominance in the small EV segments. Notably, the Wuling Bin Guo and the Baojun Yep garnered significant attention, with sales reaching over 41,000 units and over 2,000 units, respectively.
Within GM’s portfolio, individual brand performances stood strong, with a cumulative sale of 239,000 units. Buick led the way with 136,000 units, closely followed by Cadillac with 55,000 units, marking an impressive 51% increase. Chevrolet also displayed commendable growth, achieving 48,000 units sold, reflecting a substantial 20% surge.