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Vehicle output in China grew remarkably in September from a year earlier with the number of passenger cars produced hitting a record high, an industry association report showed.
During the month, 417,100 vehicles were made in China, an increase of 34.28 percent from the same period last year, statistics from the China Association of Automobile Manufacturers revealed. The output was up 15.70 percent when compared with August.
Passenger car output rose by 67.50 percent year-on-year to a record high of 186,300 units in September. The figure was up 14.15 percent from the previous month.
Total output during the first three quarters of this year reached 3,198,900 units, an increase of 35.77 percent from a year ago, according to the association's figures. Passenger cars during the period increased by 87.23 per cent year-on-year to 1,409,800 units.
Truck totals in September stood at 107,100 units, up 15.70 percent from the previous month, up 4.23 percent from the same period last year.
Output of buses amounted to 123,800 units in September, an increase of 21.02 percent from August and 28.01 percent from a year earlier.
Sales of new vehicles made in China totaled 3,118,300 units from January to September of this year, up 30.16 percent from the corresponding period last year, statistics indicated.
Sales of domestically made passenger cars grew by 68.83 per cent year-on-year to 1,341,000 units during the first three quarters of this year, officials said.
China's top three automakers - First Automotive Works Corp (FAW), Dongfeng Motor Corp and Shanghai Automotive Industry Corp (SAIC), controlled 51.41 per cent of the total vehicle output during the period.
The top three - which all have two or more joint ventures with foreign auto giants - also accounted for 49 percent of total sales of vehicles made in China.
Industry analysts and automakers forecast that China's total vehicle output will exceed 4 million units this year, dwarfing France as the world's fourth largest auto producer.
"Manufacturers' new product launches and price cuts remain the biggest growth engine for output and sales of vehicles, especially passenger cars in China," said official from the association said.
The majority of passenger car manufacturers in China have introduced new products and cut prices this year, such as Shanghai GM, Shanghai Volkswagen, FAW Volkswagen, and Dongfeng PSA Citroen - the four biggest Sino-foreign joint ventures in terms of annual sales.
Shanghai GM, General Motors' joint venture with SAIC, said it sold 7,580 units of the newly launched Buick Excelle last month.
Sales by the joint venture operation, which also produces the Buick Regal and Sail, increased by 62.5 percent year-on-year to 132,940 units during the first three quarters of this year.
(China Daily October 22,2003)
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