Car prices year-end sales inventory: Shanghai GM top BYD hate

Yesterday, various car companies began to pay "year-end operations", which is a few happy moments. Among them, BYD (01211.HK) sold 520,000 vehicles in 2010, which is still 13.4% lower than the revised target.

In the second half of last year, BYD revised its 2010 annual sales target from the original 800,000 to 600,000. Due to weak sales and failure to cope with spare parts production, BYD said it could not achieve the 2010 target as scheduled.

In addition to BYD, Li Shufu, chairman of Geely Auto (00175.HK), said in his 2011 New Year's message that in 2010, a total of 415,000 vehicles were sold. This figure exceeds the original target of 15,000 vehicles, an increase of 26% year-on-year.

General Motors also reported its 2010 results. GM’s total sales in China reached 2.35 million vehicles throughout the year, a year-on-year increase of 28.8%, a record high, and has led other multinational auto companies in China for the sixth consecutive year, becoming the first year in China. A multinational car manufacturer that has sold more than 2 million cars.

"The success of GM in 2010 has benefited from the continued implementation of a strong new product strategy in China," said Gan Wenwei, president and general manager of General Motors China. However, due to steady sales of over 18 million vehicles in China, the year-on-year increase of more than 32%, in fact, the sales growth of GM in China is still not the average level.

Among GM's member companies, Shanghai GM's annual sales volume reached 1.039 million units, making it the largest domestic car manufacturer. After losing out to FAW-Volkswagen and Shanghai Volkswagen in 2008 and 2009, Shanghai General Motors relied on its new product strategy for another two years.

Among them, Chevrolet total sales reached 544,000 vehicles throughout the year, an increase of up to 63.4%. The cumulative sales volume of the Buick brand reached 550,000 vehicles throughout the year, a year-on-year increase of 23%. The luxury brand Cadillac sold a total of 17,000 vehicles in 2010, an increase of 139% year-on-year.

As the three major brands of Shanghai GM, Chevrolet has exceeded the Buick brand since November last year and has become the largest-selling sub-brand. Ding Lei, general manager of Shanghai GM, said in an interview with the "First Financial Daily": "In the Shanghai GM's brand pyramid, Chevrolet brand is the base, the future must enlarge the sales of Chevrolet in the country, but Buick brand positioning will have to Going to the high end is not just a pursuit of quantity."

In addition to the “Wuling” brand of SAIC-GM-Wuling’s “Wuling” brand, the company sold 1.149 million domestic cars in 2010, a year-on-year increase of 14.8%, and continued to be the first in the domestic mini vehicle sector. With the contribution of the Chevrolet brand, the sales volume of SAIC-GM-Wuling exceeded its sales volume. 1.23 million vehicles, an increase of 15.6% year-on-year, completed the preset targets at the beginning of the year.

At the same time, 2010 was the first year after the establishment of FAW-GM Light Commercial Vehicle Co., Ltd., and the annual sales volume was 88,224 units.

Due to the withdrawal of policies such as automobile going to the countryside and purchase tax concessions, as well as the introduction of the Beijing purchase restriction policy, car companies are generally not optimistic about the 2011 auto market and have lowered their growth targets one after another.

Among them, Shanghai General Motors had 1.15 million vehicles, an increase of 15%. FAW Toyota's annual sales target was 550,000, an increase of 10%; Dongfeng Nissan's sales target was 772,000, an increase of approximately 17%; Mazda's sales in China are: 280,000 vehicles, an increase of 20%; the most aggressive BYD in the past two years, this year's production and sales growth target of 10% to 15%. Shanghai Automotive, which has a relatively small base, targets 220,000 cars, an increase of 38%, making it the most aggressive.