China's Leading Auto Maker Sees Record Sales

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Last updated at: (Beijing Time) Thursday, January 16, 2003

China's Leading Auto Maker Sees Record Sales

China FAW Group Corp., the country's leading auto maker, sold a total of 580,000 automobiles in 2002, up 45 percent, the company said Tuesday.

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China FAW Group Corp., the country's leading auto maker, sold a total of 580,000 automobiles in 2002, up 45 percent, the company said Tuesday.

The company's sales volume exceeded 10 billion US dollars for the first time in its history, a year-on-year increase of 34.8 percent.

Experts with the company, which was set up in the 1950s and dubbed the cradle of China's auto industry, said the performance was better than expected.

They attributed the rapid growth to booming domestic demand.

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