First-half net profits of China Great Wall Motor Co, Ltd., China's largest SUV and pickup maker, fell 3.3 percent to under 4 billion yuan ($640 million).
Vehicle sales maintained stable growth in July, even though overall weak consumption hurt the industry and the FIFA World Cup dampened buyers' enthusiasm.
China's auto sales rose 6.7 percent year on year to 1.62 million units in July, official data showed Friday.
Great Wall Motor seems to have started losing its steam after a sustained rapid growth in the past five years, with the company seeing 70 billion yuan ($11.3 billion) contraction in its market value in the first half of this year.
Auto sales in China will reach more than 50 million units when the market reaches its peak in the next four to six years, said a senior researcher at the government's think tank.
China imported 681,000 cars during the first half of this year, with 29.5 percent year-on-year growth and monthly import exceeding 100,000.
Market share for Japanese automotive firms in China has recovered slightly from the low point it hit two years ago in the wake of a diplomatic row.
Emerging economies, especially China, will be the largest market for light vehicles in the next five to 10 years, according to a report from IHS Automotive Consulting.
Great Wall Motor Ltd saw its market value shrink by 70 billion yuan ($11.27 billion) as its stock price dived 50 percent.
Ahead of its Chinese market launch in third quarter, the new generation C-Class by Mercedes-Benz has begun rolling off the production line at Beijing Benz Automotive Co Ltd.
A Chinese auto association has forecast that vehicle sales will slow more than previously projected, as the economy is showing little sign of improvement.
China's ultra luxury vehicle sector continued to grow in the first half of the year despite worries of a drop in sales due to the government's frugality campaign.
Bentley Motors, British luxury car brand now owned by Germany's Volkswagen, Wednesday announced that its global sales increased by 23 percent.
China's automobile output and sales both exceeded 11 million units during the first half of 2014.
Passenger-vehicle sales in China continued their momentum with double-digit growth numbers during the first six months of the year on the back of stable economic growth.
Daimler expects its Mercedes-Benz brand to overtake rivals Audi and BMW by number of cars sold in China this year as its new strategy for the world's biggest car market starts to bear fruit.
The slowdown in economic growth and government efforts to curb extravagance will not affect sales of German luxury cars in China due to robust demand.
German car producer Audi AG has achieved new record sales figures in the Chinese market in the first half of 2014, selling 268,666 automobiles, Audi announced on Friday.
China's passenger vehicle sales accelerated in May with the highest monthly rate this year, indicating further growth in the domestic market this year.
Many companies are chasing the opportunities in China's automotive after-sales services. They've entered and invested.
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