China's homegrown auto sales brake slightly
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China Daily, July 12, 2011
China's passenger car market achieved positive growth last month while homegrown auto brands are still skidding on ice, China Business News reported Monday.
According to statistics from BYD, June sales hit 32,500 units, a decline of eight percent year-on-year and 21 percent from the previous month, according to the news report.
The implementation of the auto purchase policy made homegrown auto manufacturers' lives even harder. Distributors of those auto brands have been shut down in Beijing recently, the news report said.
The market share of homegrown auto brands have also affected by the gloomy sales. The sales of homegrown brand passenger vehicles in the first six month totaled 3.16 million units, dropping 0.82 percent year-on-year, accounting for 44.39 percent of the total sales of passenger vehicles. The market share dropped 2.96 percentage points from last year, according to the news report.
