GM cuts prices on 40 vehicle models in China after April sales slip

General Motors (GM.NYSE), cut prices on 40 vehicle models by as much as RMB53,900 (US$8,681) through its joint venture with SAIC Motor Corp (600104.SHA) after sales dropped in April, Reuters reported, citing a statement on Shanghai GM’s website. The cuts apply across the firm’s popular Chevrolet, Cadillac and Buick brands. The top US car maker and its local joint ventures saw sales fall 0.4% last month as demand for its largest brands fell, with sales of Buick, Chevrolet and Wuling brands dropping by 8.5%, 5.6% and 5.1%, respectively.