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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).

NACTOY announces top nine finalists for Car, Truck and Utility of the Year

Finalists for the 2024 North American Car, Truck and Utility Vehicle of the Year (NACTOY) Awards were announced at this year’s L.A. Auto Show. This whittles the field down to nine vehicles in total, with the winners scheduled to be announced on January 4, 2024. The finalists in their respective categories: Car category: Honda Accord, Hyundai Ioniq 6, Toyota Prius Truck category: Chevrolet Colorado, Chevrolet Silverado EV, Ford Super Duty Utility category: Genesis Electrified GV70, Kia EV9, Volvo EX30 These nine cars were chosen from a list of 25, which was previously narrowed down from a list of 52 eligible vehicles. Notable misses include the Chevrolet Corvette E-Ray, Toyota GR Corolla, GMC Canyon, Ford Ranger, Chevrolet Blazer EV, Chevrolet Equinox EV, Mazda CX-90 and Toyota Grand Highlander, among others. Jurors will now evaluate the final nine through the end of the year to determine the four winners. Autoblog Editor-in-Chief Greg Migliore is among the jurors. Green LA Auto Show Chevrolet Ford Genesis GM Honda Hyundai Kia Toyota Volvo Truck Crossover Hatchback SUV Electric Hybrid Luxury Off-Road Vehicles Performance Sedan

China's rise, global restructuring wither GM's Korea division

An article in the Daily Kanban suggests the sun is setting on GM Korea, and it could already be well into dusk. GM Korea came about when General Motors, along with co-investors SAIC and Suzuki, bought Daewoo Motors from parent company Daewoo Group in 2001; it had a previous tie-up with GM, a joint venture that ended in 1992, although Daewoo cars were based on GM cars until 1996. Over the decade following the purchase, it became such an important part of operations that it was renamed GM Korea in 2011, "to reflect its heightened status in [the] global operations of GM." Just two years later, the printed rumors were that the subsidiary responsible for a fifth of Chevrolet's global production could be shutting down. The division's sales were down almost 21 percent through November of last year, counting domestic South Korean sales, exports, and CKD – Complete Knock Down – products. That makes the labor strife, already an issue for four years, even more acute, reports say the subsidiary will lose $36 million a year if it can't get the job and wage cuts it wants, and government concessions can't make up for the losses. And it gets worse, so head over to Daily Kanban to read the rest of the story.