RSSNewsletterSiteMapFeedback

Home · Weather · Forum · Learning Chinese · Jobs · Shopping
Search This Site
China | International | Business | Government | Environment | Olympics/Sports | Travel/Living in China | Culture/Entertainment | Books & Magazines | Health
Home / Business / Auto Tools: Save | Print | E-mail | Most Read | Comment
Auto output, sales likely to hit 10 mln units in 2008
Adjust font size:

Auto production and sales in China are both likely to hit a record 10 million units this year, an industry executive forecast on Tuesday.

 

Dong Yang, vice chairman of the China Association of Automobile Manufacturers (CAAM), told Xinhua it was a "foregone conclusion" that both China's auto output and sales would surpass 8.7 million units in 2007.

 

"They will continue to expand at double-digit rates in 2008," he added.

 

In 2006, China overtook Japan to become the world's second largest car market, trailing only the United States, with sales of 7.2 million units, up 25.13 percent from a year earlier. The country was also the world's third largest vehicle producer, after Japan and the United States.

 

Currently, vehicle ownership in China was 44 for every 1,000 people. This was compared with the world average of 120. The United States had 750 vehicles for every 1,000 people.

 

Dong said the domestic car market had huge potential as the country had 57 million motor vehicles by the end of last year. Among them were 21.5 million privately-owned cars, according to latest government figures.

 

"Motor vehicles will play an extraordinarily-important role in China's consumer spending," he said, as the economy maintained fast growth and the government tried to encourage people to spend money.

 

Total auto sales in China jumped to 7.95 million units in the first 11 months of 2007, up 23.2 percent from a year ago, according to CAAM data.

 

Vehicle sales in November alone rose 16.3 percent in comparison to the same period a year earlier to 800,900 units.

 

(Xinhua News Agency January 9, 2008)

Tools: Save | Print | E-mail | Most Read

Comment
Username   Password   Anonymous
 
China Archives
Related >>
- Auto sales rise 20% to 8.7 mln in 2007
- Chinese car makers set to drive to higher net
- Passenger car sales rolling with 21.2% rise
- China's car sales accelerate to 21.3%
Most Viewed >>
-January CPI expected to rise 6.5%
-Lucrative Yuanmingyuan duplication scheme
-Tight monetary policy must not be eased
-Lenovo to sell mobile unit for US$100m
-Housing prices rise 10.2% in major cities in Q4

May 15-17, Shanghai Women's Forum Asia
Dec. 12-13 Beijing China-US Strategic Economic Dialogue
Nov. 27-28 Beijing China-EU Summit

- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?
SiteMap | About Us | RSS | Newsletter | Feedback

Copyright © China.org.cn. All Rights Reserved E-mail: webmaster@china.org.cn Tel: 86-10-88828000 京ICP证 040089号