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GM and Ford quarterly sales continue to slump in China

BEIJING — General Motors and Ford announced their quarterly sales in China fell, albeit at a slower pace sequentially, as the U.S. automakers were hit by a slowing economy amid the Sino-U.S. trade war. GM's vehicle sales in China for the quarter ended June 30 dropped 12.2%, while Ford's sales slumped by 21.7%. While GM also suffered from heightened competition in its key mid-priced SUV segment, Ford was hurt by the limited new models for customers to choose from. For the first quarter of this year, Ford's sales in China tumbled 35.8 percent while GM's skid 17.5 percent. Still, the numbers from GM, the second biggest international automaker in China by sales, and Ford portend more uncertainty for the industry which is trying to rebound from a downward spiral that led to its first annual sales decline last year in more than two decades. GM delivered 1.57 million vehicles in China in the January-June period this year, while Ford delivered 290,321 vehicles. China's factory activity shrank more than expected in June, highlighting the need for more economic stimulus amid higher U.S. tariffs and weaker domestic demand. Annual car sales in China fell last year for the first time since the 1990s, and they are expected to fall this year too. Sales tumbled 16.4% in May from the same month a year prior, the China Association of Automobile Manufacturers (CAAM) said. That marked the 11th consecutive month of decline and followed falls of 14.6% in April and 5.2% in March. U.S. car companies' share of total China passenger vehicles sales fell to 9.6% in the first five months of this year from 10.9% in the year-ago period, according to CAAM. Over the same period, German car makers' share has risen to 23.3% from 20.9% and Japanese auto makers' to 21.3% from 17.3%. CAAM is set to announce June sales next week, which industry analysts forecast will be negative.   New models In China, GM has a joint venture with SAIC Motor Corp, in which the Buick, Chevrolet and Cadillac are made. It also has another venture, with SAIC and GuangxiAutomobile Group, in which they make no-frills minivans and have started to make higher-end cars. Sales of GM's affordable brand Baojun dropped 31.8% for the latest quarter. But luxury brand Cadillac's sales jumped 36.6%. GM sold 3.64 million units in China last year, down from 4.04 units in 2017. Ford makes cars in China through its joint venture with Chongqing Changan Automobile Co and Jiangling Motors Corp (JMC).

Despite strong profits, GM still fighting flat market share

Looking at the progress General Motors has made since it entered bankruptcy, it's easy to forget that the company still has a long way to go before it's the juggernaut it once was. A recent report from Reuters points out that, while GM is making money, it isn't making any gains in terms of US market share. Quite the opposite, really. Consider this factoid: In 1963, nearly half of the cars sold in the United States were from Chevrolet, Cadillac, Buick, GMC or Pontiac. Now, the company's US market share is stagnant at 17.9 percent. That same number is half of just Chevy's 1963 market share. This is all despite GM going on a binge replacing or updating its models. "Market share increases are not instantaneous," Mark Reuss told Reuters at the 2014 Detroit Auto Show. "We've got a lot of baggage. Don't underestimate what people though of us, or these brands, through these hardships and 30 years." The reasons for the stagnant market share are numerous. Reuters points out that retooling of factories and a focus on limiting incentives are both good things for profit, but not necessarily for market share. There's also the troubling turnover of the brand's marketing department. These issues don't change the fact that Chevrolet has lost 1.4 percent of its market share in two years, and that Cadillac - arguably GM's most improved brand overall - has lost 1.2 percent in the same period. Part of that can be blamed on GM's avoidance of fleet sales in favor of more profitable customer sales. "Our focus has really been on retail and that's where we've got the growth," said Alan Batey, GM's interim global marketing boss. "We want to grow GM and that means growing market share and profits, but it's not at all costs," Reuss said. News Source: ReutersImage Credit: paul bica - Flickr CC 2.0 Earnings/Financials Buick Cadillac GM GMC sales profits

Buick adds Sport Touring trim to sedan lineup

Buick has made a few tweaks to its sedan lineup today, announcing that a new Sport Touring trim will be offered on the LaCrosse, Regal, and Verano. It's best to think of the new Sport Touring models as Buick's answer to Chevrolet's limited range of RS models, focusing on very small style changes rather than any added performance. Best to leave that to the Regal GS, we guess. For the ST trim, Buick has fitted its three four-doors with new 18-inch wheels. These relatively sporty hoops get machined faces with black inserts, like those offered on the Encore Sport Touring and the Enclave Tuscan Edition. Also coming to the LaCrosse, Regal, and Verano Sport Touring is a new rear spoiler. Like we said, these are simple styling packs meant to spice up the staid but handsome exteriors of the brand's sedans. "These new ST models underscore the importance of design choices, while complementing the safety, refinement and connectivity technologies that are drawing new customers to Buick dealerships," Buick VP Duncan Aldred said in the attached statement. The new trim level will be available on all three vehicles this fall, with prices to be announced closer to the on-sale date. Scroll on for the official presser from Buick. Related Video: Buick Expands 2016 Sport Touring Lineup Distinctive sedans join Enclave Tuscan Edition, Encore Sport Touring DETROIT – Buick unveiled 2016 LaCrosse, Regal and Verano Sport Touring (ST) models today – sedans with distinctive exterior cues designed to set them apart from the pack. Each features special 18-inch wheels with machined faces and black "pockets," and a rear spoiler. They join the Enclave Tuscan Edition and recently announced Encore Sport Touring as special models expanding Buick's lineup with more design-focused choices. "Buick is reaching an all-new generation of customers by reinventing itself in terms of design, function and capabilities," said Duncan Aldred, vice president of Buick. "These new ST models underscore the importance of design choices, while complementing the safety, refinement and connectivity technologies that are drawing new customers to Buick dealerships." The new Sport Touring sedans – and Encore Sport Touring – go on sale this fall. LaCrosse Sport Touring includes Buick IntelliLink with Apple CarPlay capability, OnStar 4G LTE connectivity with Wi-Fi hotspot, remote start, eight standard air bags (including rear-seat thorax air bags) and leather-trimmed seats – with heated front seats.