General Motors (GM, Financial) achieved a noteworthy milestone in the third quarter as its sales of electric vehicles (EVs) and plug-in hybrids in China surpassed those of traditional gasoline cars for the first time. This achievement, however, came amidst a decline in overall deliveries.
In a recent statement, GM revealed that it sold 426,000 vehicles in the Chinese market during the three months ending in September, with EVs and plug-in hybrids accounting for 53% of total sales. Despite this shift towards greener vehicles, GM's overall sales in China decreased by 21% year-over-year in the third quarter.
The majority of GM's deliveries, over three-quarters, originated from its joint ventures with SAIC Motor and Wuling Motors. Meanwhile, sales of its Buick, Cadillac, and Chevrolet brands totaled less than 100,000 units.
This milestone reflects the broader trends in the Chinese market, where the sales of electric and hybrid vehicles also surpassed traditional gasoline cars in July. According to the China Passenger Car Association, deliveries of internal combustion engine vehicles fell by 15% in the first eight months of this year.
