Own brands to take over 50% China's auto market share

Shanghai, July 16 (Gasgoo.com) China's homegrown carmakers are on the way to dominate the auto world in China, with its market share reaching over 40% in the passenger car market last year, and the figure is expected to exceed more than 50% this year, media reported yesterday.

China's first "automotive technology and self-developed vehicle products exhibition" was kicked off on July 15 by the National Development and Reform Commission (NDRC), Ministry of Industry and Information Technology of China, China's Commerce Department, China-Europe Association For Technical & Economic Cooperation and China Automobile Dealers Association. The theme for this week-long State-level exhibition is "Dream, Self-Improvement and Going Beyond."

Fifteen own-brand carmakers, such as FAW, SAIC, Dongfeng Motor, Chery Auto, BYD, took part in the exhibition, displaying nearly 150 self-developed models with independent intellectual property rights. Twenty percent of the exhibited models are either new energy vehicles or fuel-efficient vehicles.

China's homegrown carmakers are now gearing up for launching new models to the market and they have launched more new car models than their joint venture competitors and this trend will continue for a while, marketing experts said.

The Chinese own-brand carmakers, still facing increasing pressure on costs and anti-risk ability of independent brands, should also pay attention to increase in core research and development capabilities while grasping more market share, industry analysts said.