September marks the first month this year that domestic own brand manufacturers managed to increase their share in the passenger automobile market. A total of 653,600 own brand passenger automobiles were sold in the month of September, increasing 19.89 percent from the previous month and 6.98 percent from the previous year. That figure accounted for 38.54 percent of sales in the passenger automobile market. That figure represents an increase of 1.41 percent points from August and up 0.19 percent points from September of 2013.
In an interview with the National Business Daily, China Association of Automobile Manufacturers Secretary General Dong Yang explained that "Chinese own brand passenger automobiles are much more attractive pricewise." Mr. Dong pointed out that own brand manufacturers are increasing their investments in research and development, transitioning from the planning phases to actual work.
However, Mr. Dong is keen to point out that single month sales results aren't enough to provide a full analysis. It still remains to be seen if September marks the beginning of a new phase for the own brand automobile market.
Own brand passenger automobile sales growth has been especially apparent in the SUV and minivan segments. Sedan sales still remain relatively poor: only 229,000 own brand sedans were sold in September, down 17.8 percent from the previous year. Own brand sales accounted for just 21.46 percent of all sedan sales for the month, 4.68 percent points less than figures from September 2013.
Sales performance of Chinese automobiles in overseas markets have also been lackluster. 78,100 Chinese vehicles were exported in September. The figure is only 0.03 percent higher than numbers from last year. 662,900 Chinese vehicles have been exported over the first nine months of the year, representing negative year-on-year growth of 7.5 percent.
