China Experiences Dropped Automotive Sales in April
Published By : 11 May 2015 | Published By : QYRESEARCH
China experienced sharp drop in automotive sales growth in April. The domestic auto makers in the country took market share from global competitors, as per industry sources.
Automakers worldwide are eyeing on China, the country which is counted as the largest auto market in terms of vehicles sold, in an attempt to propel revenue in the future. But the automotive sales growth exhibited deceleration as the economic expansion in the country cools down.
At the same time last year, auto sales exhibited sales growth of 3.7% with the number of vehicles being sold recorded as 1.7 million, as per China Association of Automobile Manufacturers. The figures exhibited drop from 9.4% in March and double digit rates that the sector exhibited last year.
The total number of vehicle sales which is inclusive buses and trucks shrunk by 0.5% recording the cont to 2 million vehicles. The domestic Chinese automakers recorded a expanded market share of 3.8 percentage points having 41.1% in total. The domestic auto car makers are gaining a foothold on the market share after losing market share to global rival in the last two years.
The SUVs segment for which Chinese low-cost make are more popular exhibited strong sales growth. The SUVs segment rose 48.5% in one year exhibiting sales of 461,000 vehicles. The Sedan segment exhibited dropped sales of 9.6% with the number of vehicles being sold recorded as 932,000 vehicles.
As per General Motors Company, the sales of GM- make vehicle co-ventured by its Chinese partner dropped to 0.4% with sales of 258,484 vehicles.
The sales of Ford Motor Co. exhibited growth of a fraction of 1% with vehicles being recorded as 96,889. Nissan which is the most popular Japanese car maker in China exhibited declined sales of 19.5% with the number of vehicles sold recorded as 95, 5000.
BMW AG, the luxury brand from Europe recorded sales growth of 6.4% with the number of vehicles sold recorded as 115,078.