China will lay emphasis on developing economy sedans with a price of some 80,000 yuan (US$9,638.5) in its Tenth Five Year Plan since this year, to satisfy the growing demand of individual car-buyers, the China News Services reported today.
The economy cars have a discharge capacity below 1.3 liters, with the fuel consumption for 100 kilometers up to the advanced standard nationwide.
The economy sedan development is one of the keystone projects of the Chinese car industry in the coming five years, said the spokesman with the State Economic and Trade Commission. The selling price of some 80,000 yuan was predicted in the light of the development trend of the car market from home and aboard, the current domestic car price and the effects China's pending entry into the World Trade Organization would do to the domestic car market, the spokesman said.
Generally speaking, economy cars are those sold below 100,000 yuan, the spokesman added.
According to a survey, economy cars will become the mainstay products in the car market later. China's Tenth Five Year blueprint indicated that by 2005, the car demand in China is predicted to reach 1.1 million-1.2 million, with the sedan output reaching 1.1 million, and the car products can roughly satisfy the domestic market demand.
According to the blueprint, a unified car consumption policy nationwide is pressed, and the car market reserved for individual buyers should be enlarged, with more sedans entering the families.