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China’s Changan’s Sales Recovered in June, Spurred by Self-developed Brands

Changan Automobiles sold 38 percent more vehicles at 194,400 units in June from a year ago, the Chongqing-based firm said in a statement yesterday, mostly spurred by its self-developed brands. In the first half, its sales climbed 1.3 percent from a year earlier amid the Covid-19 pandemic. It looks like Changan could use the win as the company has been suffering from a sales slump for three consecutive years, causing foreign partners Suzuki and Groupe PSA to withdraw from its JVs. Consequently, the Chinese firm's shares have fared poorly in the past couple of years. But things started looking up in the third quarter of last year as sales improved with the main driver of transformation being Changan-branded vehicles with better profit margins. Last month, the manufacturer's self-owned brands grew in popularity as sales rose 39 percent to 146,600 units from a year ago. Sales of joint venture Changan Ford Automobile climbed 37 percent to 22,100 units and Changan Mazda Automobile so...