Boston, MA 10/10/2014 (wallstreetpr) – General Motors Company (NYSE:GM) and its Joint Ventures in China witnessed accelerated growth rate of sales in September. In the last three-month period, the growth pace was steadily increasing. This could well set the stage for the company to surpass the yearly target of three million vehicles in the current calendar year.
The latest news comes on the back of 19% growth in total deliveries in the U.S. in September due to strong strength outpacing the industry trend.
Growth Rate
For instance, vehicle sales from General Motors Company (NYSE:GM) and its JV partners in China witnessed 15.2% uptick in September from the previous year month, Reuters reported. This came on top of a 14.0% year-over-year growth in August and a 12.7% surge in vehicles sales in July.
In September, about 319,936 vehicles were sold in China.
As a result, its year-to-date sales jumped 11.6% to 2.58 million vehicles. It has been manufacturing vehicles in China in alliance with SAIC Motor Corp Ltd and China FAW Group Corp.
During an Auto Exhibition in April in China, General Motors Company (NYSE:GM) indicated that it would invest about $12 billion in China till 2017 from the current year. It said that it would establish five additional plants to lift its manufacturing capacity.
Current Year Target
The General Motors Company (NYSE:GM)’s President for China, Matthew Tsien, said in September that it was planning to sell three million cars for the second consecutive year in the current year 2014. He stated that the company was expecting to deliver a sales growth of 8–10% uptick in the current year, which was in line with the overall growth of auto market in China.
The China division has already achieved 2.58 million vehicle sales till September. This meant that only 0.42 million sales need to be achieved in the current year. On average, the region generated sales of 0.29 million a month in the last nine-month period. Assuming the same average in the next three-month period, the sales would reach 3.45 million. This means that the region has the potential to deliver 15% more than its target of three million.
