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Japanese automakers enjoying steady sales

Shanghai Daily 徽标 Shanghai Daily 2020/8/5 Hu Yumo

Japanese automakers posted steady sales results in July in China, according to data from the automakers on Wednesday.nbsp;

Many brands recorded robust sales growth last month, driven by increasing consumer confidence as well as resumption of car sales and production in China's auto market.

China's official overall auto sales data for July will be released by the China Association of Automobile Manufacturers next Tuesday.nbsp;

Industry insiders said Japanese car manufacturers reported a relatively good performance last month due to replacement of cars and the availability of more luxury models.

Toyota said it sold 165,600 units in China in July, an increase of 19.1 percent year on year. Its Lexus luxury brand delivered 22,325 vehicles in July, a rise of 38.6 percent year on year.nbsp;

Toyota said sales had been recovering since the COVID-19 pandemic and July was is the fourth consecutive month of increased sales. Sales from January to July increased by 1.1 percent year onnbsp;year.

After the COVID-19 situation improved, auto shows held across the country has boosted auto consumption.

Industry analysts also attributed increased sales of Japanese car brands to the high sales value of second-hand cars.nbsp;

David Zhang, an independent automotive consultant, said Japanese cars were durable and had low fuel consumption. In addition, Toyota's factories in China had recovered quickly from the pandemic, ensuring production.

Ren Wanfu, an automotive analyst told domestic news portal Caijingnbsp;that Toyota's sales in July were due to three reasons. First, product upgrading which made its models more competitive. Second, its use of a gasoline engine and electric motor had been popular with consumers. Third, car buyers who bought US, French and Korean brands were now choosing to buy Japanese cars.

Honda, another Japanese maker, sold 136,646 units in July, a jump of 117.8 percent year on year. The automaker said sales in July had set a record for that month.

From January to July this year, Honda sold 748,653 units in the Chinese market, up 86.9 percent year on year.nbsp;

Nissan reported sales in July of 120,945 units, an increase of 11.6 percent compared with the same period last year.nbsp;

The Japanese automaker said that, with the COVID-19 pandemic under control in China, its sales in the country had rebounded for five consecutive months and had achieved double-digit growth for the first time this year.

Zhang Xiaofeng, an independent market analyst, said China's auto market will be very important to Japanese automakers because of pandemic factors in overseas markets. As the Beijing Auto Show approaches, Zhang said Japanese brands need to seize the opportunity to further attract car buyers.

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