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China's automobile production and sales slowed in 2008
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16:33, January 15, 2009

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In 2008, China's automobile production and sales amounted 9.345 million and 9.38 million vehicles respectively, with increases by 5.21% and 6.70% from 2007, according to information from the Ministry of Commerce and the China Association of Automobile Manufacturers. Growth rates fell by 16.81 and 15.05 percentage points respectively from 2007.

However, according to forecasts, China was still be the second automobile seller in the world in 2008.

In 2008, the production and sales of passenger vehicles were 6.7377 million and 6.7556 million vehicles respectively, with a growth by 5.59% and 7.27% year-on-year. The production and sales of commercial vehicles were 2.6073 million and 2.6248 million vehicles respectively, leading to an increase by 4.24% and 5.25% year-on-year.

In December 2008, China’s automobile production dropped by 8.60% compared with the previous month and dropped by 23.70% year-on-year. Automobile sales in December 2008 increased by 8.24% from the previous month, but dropped by 11.64% year-on-year. The market demand for passenger vehicles has rebounded, whereas demand for commercial vehicles is still weak.

By People's Daily Online

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