Under the pressure of the global economy in the third quarter, GM showed strong profitability and liquidity. The company continued to invest in electric vehicles and self-driving cars, and launched a series of new full-size SUV products, which continued to lead the US full-size pickup truck and large SUV market.
As of the third quarter, the liquidity of the company's automobile business reached $37.8 billion, exceeding the expected target. The company expects to pay off the revolving loan before the end of the year and maintain a strong cash reserve. Through effective transformation measures, since 20 18, GM has optimized the cost of 4 billion US dollars. The company expects to achieve the goal of cumulative cost optimization of 4 billion to 4.5 billion US dollars by the end of the year.
In addition, in the American market, GM's monthly sales in the third quarter achieved a month-on-month increase. Sales of crossover cars, full-size pickups and large SUVs are strong.
Chevrolet Trailblazer's quarterly sales hit a record high. Cadillac XT6 sales increased by 45% year-on-year. In the pickup truck market, GM's market share increased by 65,438+0.7 percentage points, reaching 37.5%, continuing to lead sales. Chevrolet Tahoe and Suburban, and GMC? Yukon and Yukon? XL has helped GM win an additional 3% market share since it went public in the second quarter of this year.
In the China market, GM's sales in the third quarter increased by 65,438+02% year-on-year. Buick and Cadillac brands performed strongly, with sales increasing by 26% and 28% respectively.
This article comes from car home, the author of the car manufacturer, and does not represent car home's position.