Auto sales growth slows down to 9.9%
Print Edition
Growth in China’s vehicle sales slowed to an annual 9.9 percent in July, an industry group said yesterday, as the world’s largest car market entered its low season.
Sales totaled 1.52 million last month, the China Association of Automobile Manufacturers said, a slowdown in growth from June’s 11.2 percent improvement.
Sales for the first seven months totaled 12.3 million units, the group said, up 12 percent from a year earlier but lower than the 12.3 percent growth in the first half.
Automakers usually carry out equipment maintenance and send workers on holiday to avoid China’s hottest weather in late July and early August, the association said.
Monthly passenger vehicles sales grew 10.5 percent year on year to 1.24 million units.
Chinese-brand sales increased 5.8 percent to 435,500 units to give them a 35.2 percent market share.
It was their lowest share of the market since the global financial crisis in 2008, the association said.
Among foreign brands, German carmakers had the largest share with 21.4 percent, followed by Japanese companies with 17.6 percent and US firms with 13.6 percent.
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