General Motors China said Tuesday it expects a tough market in 2020 after sales there declined 15.1 percent last year.
In 2019, China full-year sales dropped to nearly 3.1 million vehicles compared with 3.6 million in 2018, including a 13.3 percent drop in the fourth quarter alone, a report released Tuesday showed.
The decline is in its second consecutive year. In 2018, sales slumped about 10 percent, its first ever decline from the previous year, plunging more than 25 percent in the fourth quarter alone, a company report shows.
The downturn comes amid a weakening Chinese economy and the U.S.-China trade war.
"During the downturn, we are focused on bolstering our product lineup and improving cost efficiency to position our company for strong performance in China over the long term," GM China President Matt Tsien said in the press release. "We expect the market downturn to continue in 2020, and anticipate headwinds in our China business."
GM sales by brands in China, including Buick, Chevrolet, Wuling and Baojun, each fell last year, mostly in double digits -- with the exception of Wuling falling by 5 percent -- the report showed.
On the bright side, Cadillac sales in China hit an all-time high of 213,717 units in 2019, a 3.9 percent increase over the previous year, a GM news release said. The company said that it's also on track to introduce at least 10 electric vehicles, known as new energy vehicles, in China, between 2016 and 2020.
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