Auto numbers rev upward

Home>>Business

Last updated at: (Beijing Time) Wednesday, October 22, 2003

Auto numbers rev upward

Vehicle output in China grew remarkably in September from a year earlier with the number of passenger cars produced hitting a record high, an industry association report showed.

DISCUSSION

CHINESE

SEND TO FRIEND

Vehicle output in China grew remarkably in September from a year earlier with the number of passenger cars produced hitting a record high, an industry association report showed.

During the month, 417,100 vehicles were made in China, an increase of 34.28 per cent from the same period last year, statistics from the China Association of Automobile Manufacturers revealed. The output was up 15.70 per cent when compared with August.

Passenger car output rose by 67.50 per cent year-on-year to a record high of 186,300 units in September.

The figure was up 14.15 per cent from the previous month.

Total output during the first three quarters of this year reached 3,198,900 units, an increase of 35.77 per cent from a year ago, according to the association's figures.

Passenger cars during the period increased by 87.23 per cent year-on-year to 1,409,800 units.

Truck totals in September stood at 107,100 units, up 15.70 per cent from the previous month, up 4.23 per cent from the same period last year.

Output of buses amounted to 123,800 units in September, an increase of 21.02 per cent from August and 28.01 per cent from a year earlier.

Sales of new vehicles made in China totalled 3,118,300 units from January to September of this year, up 30.16 per cent from the corresponding period last year, statistics indicated.

Sales of domestically-made passenger cars grew by 68.83 per cent year-on-year to 1,341,000 units during the first three quarters of this year, officials said.

China's top three automakers - First Automotive Works Corp (FAW), Dongfeng Motor Corp and Shanghai Automotive Industry Corp (SAIC), controlled 51.41 per cent of the total vehicle output during the period.

The top three - which all have two or more joint ventures with foreign auto giants - also accounted for 49 per cent of total sales of vehicles made in China.

Industry analysts and automakers forecast that China's total vehicle output will exceed 4 million units this year, dwarfing France as the world's fourth largest auto producer.

"Manufacturers' new product launches and price cuts remain the biggest growth engine for output and sales of vehicles, especially passenger cars in China," said official from the association said.

The majority of passenger car manufacturers in China have introduced new products and cut prices this year, such as Shanghai GM, Shanghai Volkswagen, FAW Volkswagen, Dongfeng PSA Citroen - the four biggest Sino-foreign joint ventures in terms of annual sales.

Shanghai GM, General Motors' joint venture with SAIC, said it sold 7,580 units of the newly-launched Buick Excelle last month.

Questions?Comments? Click here

China's auto output jumps

China's Automobile Output Could Hit Four Million: Expert

China's Vehicle Exports Rise 266.4 % off Small Base

High-speed rail from Shanghai to Beijing reconsidered ( 3 Messages)

China's central bank governor on exchange rate of RMB ( 3 Messages)

Japan to pay China 300m yen for lethal gas leak incident ( 4 Messages)

Chinese, US presidents to meet in Bangkok ( 21 Messages)

Bush: China's manned space mission is not a threat ( 5 Messages)