China auto sales growth decelerates in April

Staff Writer
Columbus CEO

BEIJING (AP) — China's auto sales growth decelerated sharply in April and domestic automakers regained market share from their global rivals.

An industry group, the China Association of Automobile Manufacturers, said Monday auto sales rose 3.7 percent to 1.7 million vehicles.

That was down from March's 9.4 percent growth rate. Total vehicle sales, including trucks and buses, contracted by 0.5 percent to 2 million vehicles.

Automakers are looking to China, the biggest auto market by number of vehicles sold, to drive future revenue, but sales growth has declined steadily as the country's economic expansion cools.

Chinese automakers expanded their market share by 3.8 percentage points to 41.1 percent. They are rebounding on the strength of a wave of new models after losing share to global brands.