China's auto sales recover in October
By Lu Nengneng |
November 10, 2012, Saturday
|
Print Edition
Print Edition
CHINA'S auto sales recovered in October after posting the first drop this year in the previous month as Chinese carmakers tapped the domestic boycott of Japanese brands due to the Diaoyu Islands row and increased their market share.
Deliveries of passenger cars and commercial vehicles rose 5.3 percent last month from a year earlier to 1.6 million units - a huge turnaround from its 1.8 percent drop in September when nationwide anti-Japanese protests broke out and almost halved Japanese car sales.
While Japanese car sales shrank 38.2 percent on a monthly basis and 59.4 percent on an annual basis, Chinese brands boosted their October deliveries by 17.5 percent from September and 4.2 percent from a year earlier.
As a result, the market share of domestic automakers in the passenger car segment powered to this year's highest level of 45.1 percent in October, up 2.37 percentage points from September. But Japanese brands lost 4.55 percentage points in market share to 7.61 percent, falling below 10 percent for the first time.
Deliveries of passenger cars and commercial vehicles rose 5.3 percent last month from a year earlier to 1.6 million units - a huge turnaround from its 1.8 percent drop in September when nationwide anti-Japanese protests broke out and almost halved Japanese car sales.
While Japanese car sales shrank 38.2 percent on a monthly basis and 59.4 percent on an annual basis, Chinese brands boosted their October deliveries by 17.5 percent from September and 4.2 percent from a year earlier.
As a result, the market share of domestic automakers in the passenger car segment powered to this year's highest level of 45.1 percent in October, up 2.37 percentage points from September. But Japanese brands lost 4.55 percentage points in market share to 7.61 percent, falling below 10 percent for the first time.
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