Retail Sales Drive General Motors to a Record August in China
If the results from General Motors (NYSE: GM) are any indication, sales in China are trending as many had hoped they would. Detroit's largest automaker started off slow in China this year, but that was expected in the wake of the partial expiration of a purchase tax rebate in January, which pushed many buyers to act in late 2016 rather than wait. After that impact faded, though, GM's sales kicked into gear, and it just posted a record August sales result in the country.
Let's break down the details about GM's performance in China last month, and consider what investors should focus on ahead.
GM's deliveries rose 12% to 328,425 units last month, driven by strong retail sales which were also up 12% year over year. Those gains were powered by Buick and Baojun, which each recorded their best ever August sales figures, and the Chevrolet marque posting a solid 21% sales gain. But one of its most compelling stories comes from the GM brand with the least volume in China: Cadillac.
Source: Fool.com
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