Great Wall sales slip 1.7% in July as market chill hits Chinese automakers
Great Wall Motor Co., China's largest SUV maker, said vehicle deliveries declined 1.7 percent to 47,445 in July, even after the company offered discounts.
It was the company's first monthly sales decline in 10 months, raising concern that demand is faltering for local automakers.
Sales of its most popular model, the H6 SUV, dropped 13 percent, according to a company filing to the Hong Kong stock exchange.
The slump signals that Chinese automakers, which have gained market share this year by offering less expensive SUVs and crossovers, also may succumb to soft demand reported by foreign automakers, which sent industrywide sales to their first decline in June in more than two years.
Great Wall's China sales have advanced 17 percent to 462,784 in the first seven months of 2015.
Sales of its most popular model, the H6 SUV, dropped 13 percent, according to a company filing to the Hong Kong stock exchange.
The slump signals that Chinese automakers, which have gained market share this year by offering less expensive SUVs and crossovers, also may succumb to soft demand reported by foreign automakers, which sent industrywide sales to their first decline in June in more than two years.
Great Wall's China sales have advanced 17 percent to 462,784 in the first seven months of 2015.
