China sees fastest growing SUV market in September

Shanghai. October 26 (Gasgoo.com) Sports Utility Vehicles (SUV) has become the fastest growing segment in Chinese automobile market. In September, a total volume of 34,500 SUV vehicles were sold in Chinese market, an increase of 65.2 percent year-on-year and 16.54 percent month-on-month, Shanghai Securities Journal reported.

By contrast, 425,900 sedans were sold in Chinese market in September, which represents an increase of 22.48 percent year-on-year and 14.43 percent month-on-month. Meanwhile, 21,900 MPV vehicles were sold in Chinese market in the same month, which represents an increase of 22.6 percent year-on-year and 14.91 percent month-on-month.

"All Joint Venture automakers in China are vying to launch their own SUV models" said Xu Changming, director of State Information Center. Dongfeng Honda sold 5,517 CR-V vehicles in September, ranked in the top in Chinese SUV market, but it is facing challenges from rivals.

"The increase of incomes has enabled more and more families to buy SUV vehicles, which have more functions in outdoors activities," said Su Hui, general manager of Yayuncun Automobile Trading Center in Beijing.

Meanwhile, an increasing number of luxury SUV models have been introduced to Chinese market in recent years, like BMW X3, X5 and Lexus RX400h.

Land Rover, the most popular luxury SUV model in the world, has sold 4,286 units in the first nine months in Chinese market, a stunning increase of 101% from last year, Shanghai Securities Journal said.