BEIJING, China – China’s auto sales growth held steady in October after a long decline, while local brands regained market share from global rivals, an industry group reported Friday.
Sales of passenger vehicles rose 6.4 per cent to 1.7 million vehicles, in line with September’s growth, according to the China Association of Automobile Manufacturers.
Sales growth in the world’s biggest auto market has steadily waned as China’s economy cools. That has intensified competition between global brands that are looking to China to drive sales and local rivals.
Total sales, including trucks and buses, rose 2.8 per cent to just under 2 million vehicles, up from September’s 2.5 per cent growth.
Market share for Chinese domestic brands rose just over 1 percentage point to 39.5 per cent. That temporarily reversed steady erosion in share in the face of intense foreign competition.
Sales of German, Japanese and American brands rose 18.9 per cent, 16.5 per cent and 12.3 per cent, respectively.
— Sales of General Motors Co. brand vehicles by the company and its Chinese partners in October rose 3.2 per cent over a year earlier to 291,371.
— Sales of Ford Motor Co. brand vehicles declined by just under 1 per cent compared with a year earlier to 93,179. Total sales for the first 10 months of the year rose 22 per cent to 906,613.
— Germany’s BMW AG said deliveries rose 20.3 per cent to 39,512 vehicles.
— Nissan Motor Co. said October sales declined 9 per cent to 104,400 units. Total sales so far this year rose 3.5 per cent to 983,500.
— Toyota Motor Co. sales rose 27.1 per cent to 104,700.
China Association of Automobile Manufacturers (in Chinese): www.caam.org.cn