China's Total Auto Output to Reach 3.9 Million in 2003

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Last updated at: (Beijing Time) Thursday, January 23, 2003

China's Total Auto Output to Reach 3.9 Million in 2003

China's total automobile output is expected to reach 3.9 million in 2003, of which 1.4 million will be sedans, 20 percent more than the previous year.

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China's total automobile output is expected to reach 3.9 million in 2003, of which 1.4 million will be sedans, 20 percent more than the previous year.

China's sustained economic growth, the improvement of the auto consumption environment and more acute competition among manufacturers will provide greater chances for the country's auto development, Yao Jie, deputy secretary general of the China Association of Automobile Manufacturers, said during a press conference here Wednesday.

China's auto industry will accelerate the pace of its regrouping and form large-scale companies, Yao noted.

Most of the Chinese provinces listed the auto industry as a pillar industry, Yao said, so the local government should optimize advantages and save resources as well as increase research capabilities.

Moreover, Yao said, the price of sedans this year will not change much and competition will be more reasonable. Price will be affected by distribution channels and consumption environment, as part of the overall sales strategy of manufacturers.

The price of imported autos will be lowered as tariffs are further reduced, which will drive domestic firms to adjust strategy including by exploring more new products and lowering the price of some old ones, according to Yao.

China should enhance construction of its second-handed auto market, Yao said, so as to provide more accesses for buyers.

The auto industry will play an active role in boosting the whole machinery industry, which is expected to grow about 15 percent this year in overall production value, Yao said.

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