Chinese brands lose market share through August, industry group says
Domestic Chinese car brands have been yielding market share to global competitors this year due to their weak brand strength.
While passenger vehicle sales rose 6 percent year-on-year to 9.2 million units in the first eight months, domestic brand sales fell 1 percent to 3.9 million units.
As a result, domestic brands' market share slid to 43 percent in the first eight months of this year, down 3 percentage points, according to the China Association of Automobile Manufacturers.
To regain market share, domestic Chinese brands need to improve their poor brand images, said CAAM Vice Chairman Dong Yang at a press conference in Beijing.
