About 60% of China's carmakers fail in H1 sales targets

Shanghai, July 8 (Gasgoo.com) China's vehicle sales hit another record high in the first half of this year, with half of the 17million-unit annual target achieved, and China remains to be the world's first in total auto sales, but not every carmaker did a great job.

(Data source: China Passenger Car Association)

According to data released by China Passenger Car Association (CPCA) yesterday, about 60% of carmakers in China actually failed to achieve their sales target for the first half of this year, and guesses are that they may set their goals too high.

As shown above, three of China's joint ventures including FAW Toyota, Guangzhou Honda and Beijing Hyundai and two own-brand carmakers Chery and BYD did not accomplish their goals.

With the market increase getting slower in the second half of the year, some carmakers may become even more desperate to attain their full-year goals, so the competition will certainly be more fierce and there may be a new car price war out there, industry annalists said.

Additionally, CPCA predicts that China's passenger car market will experience slow growth in July, as in the past three month.