According to GM's Q1 2024 financial data released on April 23, the company's global sales in Q1 2024 were 1,348,000 units, down 2.5% from the same period last year.
The breakdown is as follows: North America: 709,000 units, up 0.3% (including 594,000 units in the U.S., down 1.5%); Asia Pacific/Middle East and Africa, led by China: 554,000 units, down 3.0% (including 441,000 units in China, down 4.5%); South America, led by Brazil: 84,000 units, down 20.8%. (including 57,000 units in Brazil, down 19.7%). The U.S. and China accounted for 44.1% and 32.7% of global sales, respectively. The US sales ratio increased relatively more due to the impact of the sales decline in China.
GM's global market share was 6.4%, down 0.5% points from 6.9% a year earlier, 14.9% in North America (15.4% in the US), 5.0% in Asia Pacific/Middle East and Africa (7.9% in China, down 1.2% points), and 10.2% in South America (11.1% in Brazil, down 4.0% points).
In China, SAIC General Motor Sales (SGMS), which sells GM vehicles, sold 155,000 units, accounting for 41.4% of total sales in China, and SAIC GM Wuling Automobile (SGMW), which sells Baojun and Wuling vehicles, sold 287,000 units, accounting for 64.9%. SGMS's sales ratio declined 2.3 percentage points YoY.
The fleet ratio was 15.5% globally and 19.6% in North America. The two-shift utilization rate in North America was 109.7%.