China Witnessing Slowdown in Sale of Passenger Vehicles

Published Date : Oct 14, 2014

Car sales in China witnessed a slump in the month of September, but the market share of China’s own car brands increased marginally. According to industry analysts, as compared to last year’s statistics currently the sale of passenger vehicles in market of the world’s largest auto manufacturer is almost 7%. However, the growth reported in the previous month was approximately 8%. 

Automakers all over the world are looking at China from the point of view of driving the worldwide auto sales. However, the growth has slowed down steadily from about 14% in May. 

According to The China Association of Automobile Manufacturers, the total sales that also included the sales of buses and trucks, increased by almost 3% from what it was in September, 2013. This entailed the sale of almost 2 million vehicles. In September, the sale of passenger vehicles reported was 1.7%, from 1.5 million in the month of August.

The growth of the foreign auto brands has surpassed their Chinese competitors. However, the local models got sold off rapidly in the month of September, involving a marginal increase in market share. 

In the month of August, the share of the Chinese brands was a little more than 37% and the market share in the month of September was almost 39%. Also, at the same time, the market share of the German brands was about 20%, Japanese brands held about 15%, Korean brands 9%, French brands about 4%, and American brands almost 14%.

The biggest Japanese vehicle giant in China, Nissan Motor Co. reported a decline in sales by about 21% in the month of September.