Chinese-brand passenger cars' market share falls 4.5%

Shanghai August 11 (Gasgoo.com) China's passenger-car sales grew at a faster pace in July as the government introduced subsidies for fuel-efficient models and dealers offered discounts to clear inventories. While the drop in cross-type passenger car sales echoes a sales slump in the Chinese-brand passenger cars, media reported today.

According to data released by the China Automobile Industry Association (CAAM), Chinese-brand passenger car sales reached 377,700 units in July, accounting for 39.92% of the country's passenger car sales, but its market share fell 4.5% month on month.

Among it, sales of own-brand passenger cars made by joint ventures with Japan, Germany, America, Korea and France were 213,600 units, 158,600 units, 101,600 units, 69,900 units and 24,800 units, accounting for 22.57%,16.77%, 10.74%, 7.38% and 2.62% of the total own-brand passenger car sales respectively. Korean passenger car's market share declined in July.

Moreover, the data show that China's self-developed sedan sales in July came to 172,500 units, accounting for 26.33% of the total sedan sales, with market share falling 3.08% from June.

The own-brand sedans made by joint ventures with Japan, Germany, America, Korea and France achieved 164,500 units, 142,600 units, 96,300 units, 54,400 units and 24,800 units in sales, accounting for 25.12%, 21.76%, 14.70%, 8.31% and 3.78% of the total sedan sales in the Chinese market respectively.