Shanghai September 6 (Gasgoo.com) Although China's August auto sales soared 55.7% year on year to 1.21 million vehicles, entering the peak sales period earlier, its own-brand vehicles' market share fell for two consecutive months, the Beijing News reported Monday.
The Chinese-brand passenger vehicles' market share reached 37.09% in August, down 0.69% from July and 1.55% from June.
The continued decline in market share was mainly caused by launch of various joint venture vehicles, such as the Volkswagen Golf and the likes which intensified competition between small displacement cars in the Chinese market, Zhao Hang, Director of the China Automotive Technology Research Center said.
