Japanese passenger cars lose market share in China

• Source: Global Times
• [18:32 November 16 2010]
• Comments

Japanese passenger cars lost part of their market share in China from January to October, and their growth rate was also below the average of the industry, according to data released by China's National Passenger Cars Association Monday.

Japanese cars have occupied 23.5 percent of the passenger vehicle market share in China, down 2.4 percent versus 25.9 percent from last year.

The cars sold 2.14 million units in China from January to October this year, up 25.2 percent from last year but the growth rate is slower than China's passenger cars' average of 37.8 percent.

Mitsubishi and Mazda Motors top the growth list: 106.5 percent and 32.2 percent respectively.

Toyota, Nissan and Honda lead the sales in China, among which Nissan sees the highest growth rate, of 31.7 percent, followed by Toyota and Honda with 25.8 percent and 15.2 percent.

Honda sold 528,600 units from January to October in China, which is less than Nissan's sales (566,300 units). Guangqi Honda, whose growth rate is at only 6.8 percent this year, develops the slowest among Japanese and Chinese joint ventures.

Although Toyota's growth rate slides faster than Honda's from January to October, it is still lower than the average industry rate.