News

China passenger vehicle sales growth continues slowdown to 6.4 per cent in September

BEIJING, China – Growth in China’s car sales slowed again in September while the country’s own auto brands increased their market share slightly.

An industry group said Monday that sales of passenger vehicles in the world’s biggest auto market rose 6.4 per cent in September from a year earlier, slowing from 8 per cent growth in August.

Global automakers are looking to China to drive global sales but growth has slowed steadily from May’s rate of 13.9 per cent as the world’s second largest economy cools.

The China Association of Automobile Manufacturers said total sales, including trucks and buses, rose 2.5 per cent over September 2013 to 1.98 million vehicles. Passenger car sales totalled 1.69 million vehicles in September, up from 1.5 million in August.

Sales growth for foreign brands has largely outstripped that of their Chinese counterparts, but local models sold at a faster rate in September, allowing a small increase in market share.

The market share of Chinese brands rose to 38.5 per cent in September from 37.1 per cent in August and was up 0.2 per cent from a year earlier.

German brands held a 19.8 per cent share of the market in September, Japanese brands held 14.9 per cent, American brands 13.6 per cent, Korean brands 9 per cent and French brands 3.9 per cent.

In comparison, General Motors Co. said sales of GM brand vehicles by the company and its local partners rose 15.2 per cent to 319,936 vehicles. The company said that was a record for September and the second-best month for sales this year.

That brought its sales for the year to almost 2.6 million vehicles, an increase of 11.6 per cent over the same period last year. Also in September, GM and its joint venture partners surpassed 20 million in all-time sales in China, the company said.

Ford Motor Co. said sales fell slightly in September to 95,875 vehicles, while overall sales for the year through September were up 26 per cent to 813,412 vehicles.

Nissan Motor Co., the biggest Japanese brand in China, said September sales fell about 21 per cent over the same month last year to 166,000 vehicles, although year-to-date sales maintained steady growth.

German luxury brand BMW AG said its sales in mainland China over the first nine months of the year rose 17.9 per cent to 335,863 vehicles.

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China Association of Automobile Manufacturers: www.caam.org.cn