China Association of Automobile Manufacturers General passenger vehicle market retail sales reached 1938 million units in August, a year-on-year increase of 22%

In August, China's passenger vehicle market retail sales reached 1938 million units, up 22% compared to the previous year

【PhoneAuto News】On September 8th, the China Association of Automobile Manufacturers (CAAM) released the statistical data for domestic car sales in August. In August, the retail sales of general passenger vehicles reached 1.938 million units, a year-on-year increase of 2.2%. The retail sales of passenger vehicles reached 1.920 million units, a year-on-year increase of 2.5%, and a month-on-month increase of 8.6%. The cumulative retail sales for this year reached 13.22 million units, a year-on-year increase of 2.0%.

The CAAM stated that the car market’s retail sales in August reached the highest level in the same period in history, with a 2% increase compared to the peak in August 2017. In August, the momentum of consumer promotion policies was strong, and sales promotions were still at their highest levels. In addition, a large number of new and low-priced models were launched before and after the Chengdu Auto Show, which released consumer demand.

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In August, the retail sales of domestic independent brands reached 1 million units, a year-on-year increase of 17% and a month-on-month increase of 6%. The domestic retail market share was 52.1%, an increase of 6.1 percentage points year-on-year. By 2023, the cumulative share of domestic independent brands is expected to reach 50%, an increase of 4.7 percentage points year-on-year. In August, the market share of domestic independent brands in the wholesale market was 57.6%, an increase of 8.6 percentage points year-on-year. Independent brands have achieved significant growth in the new energy and export markets. Leading traditional car companies have performed well in transformation and upgrading, with brands such as BYD, Chery, Changan, Geely, and Great Wall showing significant increases in market share.

In August, the retail sales of mainstream joint venture brands reached 650,000 units, a year-on-year decrease of 16% and a month-on-month increase of 10%. The market share of German brands in August was 20.1%, a decrease of 1 percentage point year-on-year, while the market share of Japanese brands was 16.7%, a decrease of 4 percentage points year-on-year. The market share of American brands reached 8.5%, a decrease of 0.4 percentage points year-on-year.

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