Shanghai, August 11 (Gasgoo.com) China's Shanghai GM claimed the highest sales figures on the list of top 10 best sellers for July with 36,966 vehicles sold both in domestic and overseas markets, FAW VW and Guangzhou Honda trailing in second and third places with sales of 34,122 units and 30,148 units respectively, according to data released by China Passenger Car Association (CPCA).
Except for Guangzhou Honda, all the other 14 automakers saw monthly sales decline in July from the previous month. Beijing Hyundai's sales fell more than 50 percent, while Chery Auto and Dongfeng-PSA also sold 20% less vehicles than June.
Tighter government monetary policies as well as record high oil prices continue to help drag down the passenger car market, said Rao Da, secretary general of CPCA. China raised prices of gasoline and diesel by 18% at the end of June.
Top 10 passenger-car makers in July