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Last updated at: (Beijing Time) Wednesday, July 30, 2003

China's Demand of Cars to Exceed 4.2 Million in 2003

As we've seen a total rising demand of cars in the first half of 2003, experts foresee that China is going to see the total demand of cars exceed 4.1 million in 2003 if there is no other influence. To add in the sales of 100,000 to 120,000 imported ones, the yearly total demand is expected to exceed 4.2 million, more than that as forecast at the beginning of the year.


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As we've seen a total rising demand of cars in the first half of 2003, experts foresee that China is going to see the total demand of cars exceed 4.1 million in 2003 if there is no other influence. To add in the sales of 100,000 to 120,000 imported ones, the yearly total demand is expected to exceed 4.2 million, more than that as forecast at the beginning of the year.

In a situation in which the market continued to go upwards, there still appeared two great changes said Xu Changming, deputy director of Information Resources Dep. under the State Information Center. One being the demand for heavy trucks which kept increasing in the past five years is getting stable and the other the demand for miniature cars which kept growing for over 10 years sees a decrease. However, it is unusual in the history of international car industry that the demand of saloon cars achieved a growth of over 50 percent in the successive two years on a scale of over one million.

There are four reasons for the continuous growing demand of cars, according to Zhu Yiping, Director of Information Dep. under China Association of Automobile Manufacturers. First of all, this year has witnessed a drop of prices for nearly 80 percent cars, and the biggest price-reduction has reached RMB 50,000 yuan. Secondly, new types of cars come ceaselessly into the market and the market gradually spread, making the market competition fiercer. Thirdly, the SARS has changed the life style of the people, and fourthly, the market of imported cars is in depression, making homemade cars get the lion's share of the market.

By PD Online Staff Liu Wei


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