July 9, 2014 / 6:45 AM / 3 years ago

China vehicle sales increased 5.2 pct in June

July 9 (Reuters) - China’s vehicle sales grew 5.2 percent in June compared with the same month a year earlier, an industry association said on Wednesday, as foreign brands continued to take market share from Chinese rivals.

Some 1.85 million vehicles were sold in China in June, according to the China Association of Automobile Manufacturers (CAAM).

During the first half, vehicle sales rose 8.4 percent in the world’s biggest automobile market. CAAM has forecast that the market will grow 8-10 percent this year, representing slower growth than last year’s 13.9 percent increase.

U.S. and European brands posted robust growth. Ford Motor Co registered China sales growth of 35 percent during the first half, while French carmaker PSA Peugeot Citroen’s main Chinese joint venture posted vehicle sales growth of 24 percent during the period.

Meanwhile, some major Chinese carmakers are losing market share. Sales at Great Wall Motor Co Ltd fell 6 percent by volume during the January-June period, while sales at Geely Automobile Holdings Ltd were down about 29 percent.

Reporting by Beijing Newsroom and Samuel Shen in SHANGHAI; Editing by Kenneth Maxwell

Our Standards:The Thomson Reuters Trust Principles.
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