19 August 2019

Sales of domestic brand cars down in Jan, Feb, paper says

Car manufacturing rose 11.4 percent year on year to 3.69 million units in the first two months while sales were up 10.7 percent to 3.75 million units, National Business Daily reported Tuesday, citing data from China Association of Automobile Manufacturers (CAAM). Sales of domestic brand sedans plunged 36.2 percent in February from January and 18.2 percent year on year to 177,700 units, accounting for 21.4 percent of the total sedan sales during the month. The market share of domestic brands fell 4.8 percentage points in January and February, a situation CAAM vice president Dong Yang said is serious. Dong called for greater protection of domestic brands and opposed any easing in restrictions on foreign stakes in joint ventures, the report said.

– Contact HKEJ at [email protected]



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