GM has posted 9% sales growth in Q2 CY2023 (April-June 2023) including record new energy vehicle (NEV) sales of over 115,000 units for the quarter, and achieved a strong mainstream market presence led by the Buick Electra E5 and E4. In Q1 CY2023, GM had sold 462,000 vehicles in China.
GM says it is on track to fulfil over 20 new and refreshed product launches in China in 2023, with over one-third being NEVs, to cater to China’s increasingly diverse consumer demand. The global Ultium platform and the local GSEV platform will both roll out new products in the second half featuring competitive prices, forward-looking technologies and attractive styling to further differentiate GM’s EV offerings.
Meanwhile, the American carmaker is ramping up its EV manufacturing capacity in China toward more than 1 million units annually in 2025, with a third Ultium Center in Yantai in the pipeline following the opening of facilities in Shanghai and Wuhan to support the rapid rollout of locally produced Ultium-based EVs.
Earlier this year, SAIC-GM-Wuling launched the Wuling Bin Guo, its first five-door all-electric hatchback in China and SGMW’s 10th EV based on the locally developed Global Small Electric Vehicle (GSEV) platform.
Wuling-Baojun sell over 286,000 units
The Wuling-Baojun combine accounted for sales of over 286,000 units or 54% of total deliveries in Q2 CY2023. Combined EV sales topped 100,000 units, with strengthened leadership in small EV segments. While the Wuling Bin Guo built upon the success of the Wuling Hong Guang Mini EV with sale of over 41,000 units, the Baojun Yep, with over 2,000 units sold in its first full month of sales, was launched as the first all-electric SUV off the Global Small Electric Vehicle (GSEV) platform.
GM brands sold a total of 239,000 units comprising 136,000 Buicks, 55,000 Cadillacs (up 51%) and 48,000 Chevrolets (up 20%).