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China's auto market grow with less share for domestic brands

2014-09-12 08:24 Xinhua Web Editor: Qin Dexing

Auto sales and production both rose in August from a year earlier, but the market share of China's domestic brands continued to shrink, the industry association said on Thursday.

China's auto sales hit 1.71 million units in August, up 4.04 percent year on year and 6.72 percent month on month. The automobile output hit 1.71 million units in August, up 2.22 percent year on year, but down 0.34 percent month on month, according to the China Association of Automobile Manufacturers (CAAM).

In the first eight months, auto sales reached 15.02 million units, up 7.67 percent year on year, and the output reached 15.22 million units, up 8.61 percent year on year.

The market share of domestic brands slumped for the 12th month.

Sales of domestic cars occupied 37.13 percent of the total sales of vehicles so far this year, down 0.99 percentage points year on year, though monthly sales hit 545,100 in August, up 5.69 percent year on year.

Sales of domestic sedans took about 19.53 percent of the total sedan sales in August, down 5.55 percentage points year on year. Such sales hit 177,900 units, down 21.09 percent year on year.

Autos of domestic brands have made remarkable progresses after about ten years of development, said Dong Yang, deputy head of the CAAM, appealing consumers to support domestic brands.

China has remained the world's largest auto market and producer for five consecutive years, with production and sales both exceeding 20 million units for the first time in 2013.

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