U.S. brands losing ground in shrinking market
Tuesday, 18 September 2018
American carmakers are losing ground in a shrinking Chinese market, and their problems are mostly tied to a lack of competitiveness rather than the trade war, an industry trade group said. The market share of U.S. brands fell to 10.7 percent in the first eight months of 2018 from 12.2 percent a year earlier, according to the China Association of Automobile Manufacturers. The drop was caused by companies including Ford Motor Co. not refreshing their lineups in a timely manner, Xu Haidong, the association's assistant secretary general, said Tuesday. While a slowing economy is weighing on the Chinese car demand, Xu said that the trade war has had a limited impact on the market. There are no anti-American sentiments or boycotting of U.S. brands by China's car buyers, he said at a media conference in Beijing.
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