20th August 2023 – (Beijing) The Chinese automotive industry has witnessed a remarkable surge in sales of domestic-brand passenger vehicles, with a significant year-on-year increase of 20.4% during the first seven months of this year. According to industry data released by the China Association of Automobile Manufacturers, approximately 7.19 million domestic-brand passenger vehicles were sold in China during this period.
Notably, the market share of these Chinese-brand vehicles has also experienced a substantial boost, reaching 53.8% in the Chinese market. This represents a notable increase of 6.1 percentage points compared to the same period in the previous year. These figures highlight the growing popularity and acceptance of Chinese-made passenger vehicles among consumers.
The positive trend continued in July, with sales of domestic auto brands witnessing a robust year-on-year growth of 11.4%, surpassing 1.2 million units sold. This remarkable achievement accounted for 57.2% of the total passenger-car sales in the country for the month, marking a significant increase of 7.6 percentage points compared to the same period last year.