The world’s largest single auto market has seen all the global automakers rushing to establish local joint ventures to domestically produce millions of vehicles. But, even a huge market can reach its peak and it looks like we’re getting near now.
After the second largest economy has started to gradually cool down its huge climb in recent months, auto sales have followed the trend and have gone down steadily since May’s 13.9% growth. The China Association of Automobile Manufacturers said that last month sales have climbed 6.4% after the August growth of 8%. The industry association said that total sales, including trucks and buses, only edged 2.5% in September, reaching a total of 1.98 million vehicles. Meanwhile, passenger car sales rose from 1.5 million in august to last month’s 1.69 million units.
Recent months usually saw foreign brands take the lion’s share of the market, but the situation was leveled in September, allowing domestic makes to recapture some market share. The tally of Chinese brands was up to 38.5%, a good increase over the 37.1% figure seen in August and an overall increase of 0.2% from the same period in 2013.
When it comes to foreign automakers, the Germans had control over 19.8% of the market last month, Japanese brands took 14.9%, the Americans were third with 13.6%, followed by the Koreans and French, which took home 9% and 3.9%, respectively.