In China's Moribund Auto Market, Japan and Germany Are Winning
In China's Moribund Auto Market, Japan and Germany Are Winning
(Bloomberg) -- As China trudges though its first car-market recession in a generation, Japanese and German manufacturers are gaining on the locals.
Brands from those countries gained market share in the first three months of 2019, while Chinese and American marques lost ground, the China Association of Automobile Manufacturers said Friday.
China car sales plunged for a 10th consecutive month in March, dragged down by a slowing economy and trade tensions with the U.S. The slump has sharpened competition, forcing manufacturers and dealers to offer generous discounts and creating a market of differing fortunes. The association predicted the slump could last for months.
Geography | Q1 2019 Share | Q1 2018 Share |
| China | 41.5% | 45.2% |
| Germany | 22.5% | 20.9% |
| Japan | 20.1% | 16.6% |
| America | 9.4% | 10.8% |
| South Korea | 4.8% | 4.0% |
| France | 0.8% | 1.7% |
Honda Motor Co.’s sales in China surged 25.8 percent in March to 122,744 units on popularity of its Accord and Civic cars. Nissan Motor Co.’s China delivery rose by 8.2 percent to 133,069 units. General Motors Co.’s main Chinese venture in Shanghai had a 24 percent decline last month, according to China Passenger Car Association.
To contact Bloomberg News staff for this story: Tian Ying in Beijing at ytian@bloomberg.net
To contact the editors responsible for this story: Young-Sam Cho at ycho2@bloomberg.net, Angus Whitley
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With assistance from Bloomberg