Competition in SUV Market Intensifies Amidst Strong Growth

Source: China Business Journal, ChinaScope Financial (Data)

+       In 12H1, the volume of SUV sales increased to 952,600, a growth rate of 28.4% year-on-year, up from the 23.6% in 2011. The 12H1 SUV growth vastly outpaced the 7.08% of passenger vehicles.

+       Given the rapid demand growth in the SUV market, automobile manufacturers are optimistic about future sales. 20 new SUV models will be released soon, all of which are believed to intensify competition in the domestic market.

The sales momentum of SUVs was particularly strong in May and June, where it showed growth rates three times that of passenger vehicles.

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