GM China sales up 1.3% in February
General Motors Co. said Wednesday the automaker and its joint ventures sold a record 261,072 vehicles in February in China, up 1.3 percent from the same month a year ago.
GM said Buick brand sales fell 0.1 percent to 59,088 vehicles, while Chevrolet sales inched up 2.5 percent to 47,521 vehicles. Cadillac sales hit a February record of 5,959 vehicles, up 36.1 percent and Baojun sales rose 391.6 percent to 27,542.
Wuling brand sales fell 11.9 percent to 120,685 vehicles as GM said market demand is shifting from mini-commercial vehicles to passenger vehicles.
GM sales in China in January were down 2.4 percent from January 2014, which GM blamed on dealer inventory constraints. GM Chief Financial Officer Chuck Stevens said earlier this year he expects the China auto industry to grow between 5 percent and 8 percent this year.
Last year, GM and joint ventures sold a record 3.54 million vehicles in China, up nearly 12 percent from 2013.
The automaker and joint ventures plan to invest $14 billion in China through 2018, adding five assembly and two powertrain plants.