China's auto sales expected to exceed 4.3 million in 2003

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Last updated at: (Beijing Time) Tuesday, October 21, 2003

China's auto sales expected to exceed 4.3 million in 2003

China's auto sales are forecast to top 4.3 million this year, with sedan cars accounting for over 1.9 million, according to the China Automotive Industry Association (CAIA).

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China's auto sales are forecast to top 4.3 million this year, with sedan cars accounting for over 1.9 million, according to the China Automotive Industry Association (CAIA).

Statistics indicated that China manufactured 3.20 million motor vehicles in the first three quarters this year, up 35.77 percent over the same period of last year. China registered sales of 3.12 million motor vehicles in the nine-month period, rising by 30.16 percent over last year's corresponding period.

Sedans registered the top output and sales among the three major types of vehicles, which also included passenger vehicles and cargo vehicles. Output of sedans alone stood at 1.41 million units, a year-on-year increase of 87.23 percent in the first nine months, and the sales surged by 68.83 percent to 1.34 million units.

Zhu Yiping, director of the information department of the CAIA, attributed the huge growth in sedan cars to the price strategy and the introduction of new models this year.

Sales of the top three automakers, which are the First Automotive Works Corporation, the Dongfeng Motor Co., Ltd and the Shanghai Automotive Industry Corporation, reported sales volume amounting to nearly half of the total.

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