GM’s China sales drop 5% in second quarter, underperforms industry recovery

China’s overall figure, which includes passenger and commercial vehicles, rose 4.4% in April and 14.5% in May, said the China Association of Automobile Manufacturers (CAAM), adding that it expected auto sales to grow 11% in June.
GM has a Shanghai-based joint venture in China with SAIC Motor Corp <600104.SS> which makes Buick, Chevrolet and Cadillac vehicles. It has another venture, SGMW, with SAIC and Guangxi Automobile Group that produces no-frills minivans and has started making higher-end cars.
Sales of GM’s mass-market brand Buick rose 7.8% while Chevrolet dropped 27.7% for the latest quarter. Sales of premium brand Cadillac fell 12%, GM said in a statement on Friday.
Sales of the no-frills brand Wuling grew 9.7%, but those of Baojun tumbled 30.7%.
(Reporting by Yilei Sun and Brenda Goh; Editing by Shri Navaratnam and Clarence Fernandez)