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Both automobile output
and sales in China in the first 11 months of this year surpassed
the total of last year with figures in November jumping from October.
China vehicle output stood at 4.67 million units
in the first 11 months of this year, up 16.23 per cent from a
year earlier, show statistics from the China Association of Automobile
Manufacturers.
Sales of vehicles made in China grew by 16.81 per
cent year-on-year to 4.58 million units during the period.
The output and sales were up from the total of around
4.4 million units last year.
In November alone, vehicle output and sales in China
rose by 16.39 per cent and 12.14 per cent to 435,700 units and
451,600 units respectively from the previous month.
Output and sales in October plunged by 14.47 per
cent and 7.83 per cent respectively from that in September.
"Both vehicle output and sales in China are
expected to top 5 million units this year," said Zhu Yiping,
the spokeswoman for the auto association.
However, total vehicle output and sales will grow
by some 13 per cent this year, down from 35 per cent last year,
Zhu said.
Analysts attribute the decelerating growth of vehicle
output and sales this year largely to banks' controls on car loans,
soaring oil prices and customers' anticipation of further price
cuts.
But the growth this year had declined to "a
normal from a breakneck level" last year, said Jia Xinguang
of the China Automotive Industry Consulting and Development Corp.
Prices of almost all the foreign and home-grown brand
cars have been slashed so far this year.
Analysts forecast that domestic car prices will decline
by 15 per cent this year from last year.
Zhu predicted that passenger bus output and sales
would total 2.3 million units this year, up from 2 million units
last year.
Growth of passenger bus output and sales in China
skyrocketed by more than 70 per cent last year from 2002.
Passenger bus output and sales increased by 15.95
per cent and 16.90 per cent year-on-year to 2.14 million units
and 2.08 million units from January to November this year, statistics
indicate.
Bus output and sales grew by 9.29 per cent and 6.95 per cent year-on-year
to 1.13 million units and 1.11 million units in the period.
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