China's Shanghai VW was the top seller in June with sales of 44,618 vehicles both in domestic and overseas markets, followed by Chery Auto and Shanghai GM, with sales of 37,994 units and 37,921 units respectively, according to a report unveiled by China Passenger Car Association (CPCA).
FAW VW saw a remarkable sales drop in June as a result of strategy adjustment. The new appointed general-manager of FAW VW Sales Division Hu Yong announced plans early in June to restrain vehicle supply to dealers so as to reduce excess inventory, which led to a decline in the monthly wholesale volume. Chery experienced a strong sales growth thanks to contribution by overseas market.
A total of 517,469 passenger vehicles (PVs) were sold in China in June, up 13% year on year (y/y), but down 1.3% from May. CPCA attributed the decline to the flooding in many of China's southern provinces and an oil price hike, but it forecasts the impact brought by these negative factors will be temporary.
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