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No more new car will be launched in the coming two years, saving resources to develop SUV business unit, stated Wang Fengying, the CEO of the Great Wall Motor Company.

Gasgoo.com (Shanghai) - Foreign brands still make up most of the sales in the passenger automotive market, with their combined market share exceeding those of own brand manufacturers. However, as own brands experience rapid growth, they have been managed to close the gap with foreign brands. According to statistics from Gasgoo.com (Chinese), own brands’ combined sales over the first six months of the year grew 25.1%, while foreign brands’ combined sales for the same time period decreased 1.1%. A total of 5.94 million foreign brand automobiles have been sold over the first six months of the year. Foreign brands’ control a combined 62.4% stake in the Chinese passenger automotive market for the first half of the year, down 5.3 points from 67.7% last year.