Chinese auto brands pick up ground on foreign ventures
Posted on Oct-17-2007· by china investor
BEIJING, Oct. 16 — China’s homegrown vehicles increased their market share by four percentage points to 26 percent last month even as price cuts by overseas joint ventures brought increased competition.
Domestic car makers delivered 111,100 self-branded vehicles in September, compared with total sales of 425,900 by all car markers across the country, the China Association of Automobile Manufacturers reported yesterday.
Market share for the domestic firms rose from 22 percent in August, when 83,400 units bearing Chinese nameplates were sold against the joint ventures in China.
The unexpected growth came after a handful of overseas car makers, including South Korea’s Hyundai Motor Corp, Japan’s Honda Motor and PSA Peugeot-Citroen, announced discounts vspace=5 border=0>
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