General Motors reported a second consecutive month of sales declines in China, its largest market, despite cutting prices on 40 models across its Buick, Chevrolet and Cadillac brands.GM and its China joint ventures sold 252,567 vehicles in May, a drop of 4 percent from a year earlier, according to a statement on its website. The decline was mainly due to a changeover and phasing out of older models, the company said.
Foreign automakers have come under increasing pressure in China as economic growth slows in the world’s largest auto market and local brands gain market share by offering cheaper SUVs. Passenger-vehicle sales rose at the slowest pace in five months in April, with most of the expansion coming from local brands.
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