GM ranked third among the world's automakers, with sales of 10 million units in 2016, a record annual sales record. After Volkswagen sold 10.31 million cars and Toyota sold 10.175 million. GM's strong sales growth in China compensated for the company's slowdown in sales growth in the US. This milestone has ushered in a record profit for GM, the largest automaker in the United States. Screw Barrel Plastic Products,Double Screw Barrel,Conical Twin Screw Barrel ,Pvc Screw Barrel Zhoushan Taisu Overseas Co Ltd. , https://www.taisuoverseas.com
In the 77-year practice, General Motors (GM) was the world's largest automaker, but in 2008, Toyota took the title. In 2016, Volkswagen surpassed Toyota for the first time and won the title of global sales champion.
At present, China is the largest market of GM. The increase in sales in China has boosted GM's annual sales highs that it did not touch even as the world's largest automaker. In 2016, GM and its joint ventures sold a total of 3,870,587 retail sales in China, an increase of 7.1% year-on-year. This set a record for the annual sales volume set in 2015. The Chinese market accounts for nearly 40% of global sales.
It is worth mentioning that the Buick brand's cumulative sales in China in 2016 reached 1,230,203 units, an increase of 19% compared with the 1.035 million units in 2015. At present, GM has not announced the global sales of Buick brand in 2016. The automotive industry is concerned that Buick China's sales account for about 90% of Buick's global sales. In other words, China is Buick's most important market, which is related to the survival of the Buick brand.
GM pointed out that despite a slight decline in sales in the United States, the company's overall sales growth has been a record for the fourth consecutive year. Since 2009, GM's domestic market sales have fallen for the first time.
In the US auto market, which has grown for seven consecutive years, sales in this market may decline slightly in 2017. GM has announced that its US plant has implemented three rounds of layoffs and lost 3,300 jobs for the first time in 2010. However, GM predicts that the company's situation will improve in 2017, thanks in large part to China. The vast majority of cars produced by GM are produced for the Chinese market.
Last year, record sales growth boosted GM's operating profit to a record high of $12.5 billion, an increase of 16%. Just seven years ago, the troubled GM was still suffering from federal aid and bankruptcy.
For GM's 52,000 US factory workers, the success of the car manufacturer is good news. This means that each of these workers can earn up to $12,000 in profit sharing. A year ago, the maximum payment for general profit sharing was $11,000 per person.
2016 was a record year for profit sharing in the US auto industry, mainly due to new contracts reached by the United Auto Workers Union. According to the new contract, about 40,000 Fiat Chrysler automakers have earned an average of $5,000 per share in profit sharing, hitting record levels. Ford Motor Company paid an average of $9,000 in profit sharing to its 560 million workers, a slight decline from the previous year.
· GM's global sales in 2016 reached 10 million for the first time, relying on the Chinese market