China's Auto Production/Sale to Top 2 MillionAuto production and sale by Chinese auto enterprises January to August numbered 1,320,000, an increase of 18% over the corresponding period last year. Since September to December every year has been a season for brisk auto sale, this year's auto production and sales amount is expected to exceed 2 million.Auto vehicles on hot sale during the last eight months were focused chiefly on large-tonnage freight trucks, minibus and light cars, of which freight trucks over 8 tons rose 78%, a result of government's policy to strengthen infrastructure construction. Minibus reported an increase of 59%, showing still an inadequacy of purchasing power by Chinese customers. In fact many car-buyers have chosen mini cars instead of sedans, for the latter were beyond their means. As is reported, mini cars have registered a growth of 46%. Sedan sales are not satisfactory for after two times of price cut, it only reached 10%. Taking 2 million in 2000 as starting point, auto production by 2005 is estimated to reach at least 3.2 million, of which 1.4 million will be sedans, and these at a high, medium and low price level would enjoy roughly the same market share. |
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