General Motors GM recently reported 12% year-on-year growth in the third quarter for vehicle sales in China. The company, along with its joint ventures, delivered 771,400 vehicles in China during the quarter. General Motors is the second biggest foreign automaker in China by units after Germany’s Volkswagen AG VWAGY.
General Motors had witnessed a 5% sales decline in China during the second quarter as certain parts of the country were still recovering from the coronavirus pandemic-induced lockdown restrictions.
However, things gradually started to pick up in the July-September quarter. Auto sales are showing signs of recovery as demand for new vehicles has been rising following the gradual reopening of the economy. This has aided General Motors to gain momentum and boost its sales in China, thus marking the automaker’s first quarterly sales growth in two years in the country.
Automakers like Toyota Motor Corporation TM and Honda Motor Company HMC