China auto sales growth cools to 9.7%

|By:, SA News Editor

China auto sales rose 9.7% to 1.3M vehicles in July, according to The China Association of Automobile Manufacturers. The mark falls short of the double-digit pace seen in May and June.

Passenger car sales rose 11% to 11M in China for the first seven months of the year.

German automakers (OTCPK:DDAIF, OTCPK:BAMXY, OTCQX:VLKAY) have gained 190 bps of market share this year to 21.5% share, while Japanese automakers (OTCPK:NSANY, TM, HMC, OTCPK:MZDAY, OTCPK:SZKMY, OTCPK:FUJHY, OTCPK:MMTOF) added 20 bps to 15.1%.

Cars sold by Chinese automakers repped 37% of the market, while U.S. automakers (GM, [F) grabbed 12.8%.