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GM China sales drop in second quarter 2022

Xinhua | Updated: 2022-07-07 10:09
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A Cadillac Lyriq electric vehicle (EV) under General Motors is seen during its world premiere on a media day for the Auto Shanghai show in Shanghai, China April 19, 2021. [Photo/Agencies]

CHICAGO -- General Motors Co (GM) sold 484,000 vehicles in China, its largest market, in the second quarter of this year, down 36 percent year-on-year, The Detroit News reported on Wednesday.

Sales of every of GM's five brands in China registered double-digit declines in the quarter despite the fact that the sales began recovering in May.

China is GM's largest market in the world.

The Detroit automaker reported Friday a 15-percent year-on-year decline in its US sales in the second quarter. Nevertheless, the automaker's US sales of 582,401 surpassed its sales in China in the second quarter.

Ford Motor Company announced on its website on Tuesday that it sold 483,688 vehicles in the second quarter and 152,262 in June, up 1.8 percent and 31.5 percent year-on-year, respectively.

Despite all the headwinds, Ford outperformed the industry in June, when overall industry sales were down 11 percent, the Dearborn-based automaker said.

Ford's total US share in June expanded to 12.9 percent, as the market demand for GM new vehicles remained strong. Ford's electric vehicles sales jumped 76.6 percent from a year ago, totaling 4,353 units for June.

Ford ended June with 297,000 units of gross stock, up from about 236,000 at the end of May. The automaker's average transaction price rose $1,900 per vehicle in June from May, lifting average transaction prices for Ford and Lincoln vehicles to $52,200.

For other automakers, Toyota Motor Corp US sales dropped 18 percent year-on-year in June. Honda Motor Co's second quarter sales in the United States fell 51 percent year-on-year. Hyundai Motor Co reported a 23 percent sales drop in US sales in the second quarter.

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