Business News Asia
The China Association of Automobile Manufacturers (CAAM) announced that sales of Chinese branded passenger cars rose sharply by 45.3% year-on-year in August.
According to the association, around 1.03 million Chinese branded passenger cars were sold in August. This represented 48.4% of the country’s total passenger car sales for the month. In the first eight months of 2022, Chinese branded car sales rose 24.5% year-on-year to nearly 7 million vehicles, accounting for 47.8% of China’s total passenger car sales in the period, up 4.9% from the same period in 2021.
The Chinese brand’s share of the segmented SUV market rose to 52.3% in August and 54.4% in the January-August period.