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GM reports third straight sales drop in China in 2020

BEIJING — General Motors' vehicle sales in China fell 6.2% in 2020, as the U.S. automaker suffered a prolonged slowdown in the world's biggest auto market. GM, China's second biggest foreign automaker, delivered 2.9 million vehicles in the country last year, the company said on Wednesday, for a third straight decline in annual sales. But sales have been recovering in the second half of last year, up 12% between July and September and 14% in the final three months. GM has a Shanghai-based joint venture with SAIC Motor, in which the Buick, Chevrolet and Cadillac vehicle brands are made. It also has another Liuzhou-based venture, with SAIC and Guangxi Automobile Group, in which they make no-frills minivans and have started to make higher-end cars. Sales of its Buick brand grew 4% on the year and Wuling rose 9%, the statement said. Luxury brand Cadillac's sales increased 8%. Sales of GM's more affordable Baojun brand dropped 33% last year, while sales of its mass-market Chevrolet tumbled 30%. GM's delivery of 2.9 million vehicles in China follows 3.09 million vehicles in 2019, 3.65 million vehicles in 2018, and 4.04 million in 2017, for a three-year decrease of 28%.

Buick resurrects the Electra nameplate on a science fiction-like electric concept

Buick plans to broaden its range of electric cars in the coming years, and it still owns the rights to the heritage-laced Electra nameplate, so it was only a matter of time before the past and the future met head-on. Buick resurrected the name it used between the 1959 and 1990 model years on a futuristic, battery-powered concept car. Created by a Shanghai-based design studio, the Electra concept takes the form of either a tall sedan or a low crossover, depending on your perspective. While it's not officially a preview of an upcoming production model, it ushers in a design language named Potential Energy that will permeate most of the electric cars the firm will release during the 2020s. It's inspired by a space capsule, according to Buick, so its greenhouse was drawn to resemble a glass pod. Its surfaces are sculpted but not chiseled, and its front fascia wears LED lights with a three-dimensional effect. Fear not: Stylists didn't forget the seemingly obligatory back-lit emblem. Butterfly doors provide access to the cabin, where the space capsule theme continues. Buick packed the Electra with cutting-edge technology features, but it concealed them rather well to avoid a tech overload. The driver faces a rectangular steering wheel that retracts when it's not needed, behind which is a wide, curved screen that replaces all of the buttons, knobs, and switches normally found in a car's interior. An electric motor is far more compact than a comparable four- or six-cylinder engine, so designers were able to carve out a generously sized interior. Engineers embedded technology into the Electra from the project's earliest stage. It's equipped with software named eConnect that supports over-the-air updates, provides on-demand information about a specific trip, and gives details about the various electronic driving aids. An artificial intelligence-powered assistant lets users perform various tasks, such as setting the air conditioning or controlling home devices, with voice commands. Buick noted the Electra offers about 410 miles of driving range thanks in part to the Ultium battery technology developed by General Motors to power a wide selection of electric models, including the Cadillac Lyriq, the GMC Hummer, and a pair of Honda-badged models scheduled to go on sale for the 2024 model year.

GM will stop reporting monthly U.S. vehicle sales

DETROIT — General Motors said on Tuesday it will stop reporting monthly U.S. vehicle sales, saying the 30-day snapshot does not accurately reflect the market, and will instead issue quarterly sales. GM will also no longer report monthly sales in China, its largest market, and Brazil. GM will provide monthly data to the U.S. Federal Reserve, industry associations and government agencies across the globe, but that data is not made public. Analysts and investors rely on monthly U.S. vehicle sales not just to track the performance of individual automakers, but as a barometer of the health of the world's second-largest auto market and as an indicator of consumer confidence in the U.S. economy overall. GM and its Detroit rivals Ford and Fiat Chrysler have relied heavily on sales of high-margin pickup truck and SUV sales to boost profits. GM's total U.S. sales, its second-largest market, are down 3.2 percent for the first two months of 2018, reflecting a 6.8 percent drop in retail sales to individual customers, the company reported last month. GM executives have expressed frustration that comparisons of monthly U.S. sales results among rival automakers are distorted by short-term discount programs, and by differences in strategy for selling vehicles in bulk to rental car fleets. "Thirty days is not enough time to separate real sales trends from short-term fluctuations in a very dynamic, highly competitive market," Kurt McNeil, U.S. vice president for sales operations said in a statement. GM's actions could prompt other automakers to also switch to quarterly U.S. sales reports. Major automakers will report March U.S. new vehicle sales on Tuesday. Until the early 1990s, most U.S. automakers released sales results every 10 days. The former Chrysler Corp. stopped reporting sales on a 10-day basis in 1990, and rivals followed suit over the next three years. GM executives are betting that investors will quickly adapt to receiving U.S. sales data every three months, as investors in other retail sectors already have. Retailers such as Walmart report sales on a quarterly basis. Reporting by Joe WhiteRelated Video: Image Credit: Reuters Earnings/Financials Green Buick Cadillac Chevrolet GM GMC US