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According to a report recently issued by the Ministry of Commerce, China’s total automobile production in 2004 is expected to be 5 million, an increase of about 13%, including 2.4 million cars, an increase of about 16%. This will enable China's auto production to climb one million steps per year for four consecutive years. Deputy Minister of Commerce Huang Hai said at the press conference of the State Council Information Office on July 30th that despite the decline in China’s auto sales in recent months, it has only declined. From the circulation link, car sales increased by 43.7% in the first half of this year compared with the same period of last year. He believes that as the car more enters the family, the automobile industry will continue to maintain a higher growth rate than other industries in the future. Some research departments predict that before 2008, China’s auto industry will continue to maintain double-digit growth. This is why foreign auto companies have been expanding their investment in China. According to statistics from the China Association of Automobile Manufacturers, in the first half of this year, China’s auto production reached 2.697 million units and sales were 2.5366 million, up by 27.1% and 24.15% respectively. The production of cars was 1,246,100, and the sales volume was 1,132,200, an increase of 36.37% and 31.59% respectively. The proportion of sedan cars in the domestic automobile structure also reached 47%, an increase of two percentage points from the end of last year. According to Xu Changming, deputy director of the Information Resource Development Department of the National Information Center, although the current automobile production and sales volume has slowed down, the outlook for China's auto demand is still promising. Xu Changming analyzed several major factors affecting demand for passenger vehicles, namely, macroeconomics, residents' income, prices, product availability, payment methods, and consumption environment. He believes that in the next five years, China's economic growth rate will reach an average annual rate of 8% to 9%, which means that families with the ability to purchase cars will continue to increase. According to the forecast of the National Information Center, China’s total car demand will reach 5.9 million in 2005, surpassing Japan to become the world’s second largest consumer of automobiles. The total car demand in 2010 will reach 8.7 million. News Background Auto production and sales have been “blowout†for two consecutive years. According to the statistics of the National Bureau of Statistics, China’s auto production in 1997 was only 1.583 million, and the proportion of cars was small. In 2001, the country’s total automobile production reached 2.342 million, of which only 695,000 were passenger cars, and less than 30% of all cars were produced. 2002 was the first year after China joined the World Trade Organization. China's automobile production and sales began to appear as a blowout market. In that year, China’s auto production exceeded 3 million units in one fell swoop, reaching 3.251 million units, an increase of 38.8%. The output of cars increased by 52.84%. It exceeded the one million mark for the first time, reaching 106.24 million units, and the proportion of cars reached 32.7%. In 2003, this "blowout" market continued. In the same year, it produced 4,443,700 vehicles of various types and sold 4,390,800 vehicles, an increase of 35.2% and 34.21% respectively. The growth of the car is even more surprising. In 2003, the sedan production reached 2.0189 million and the sales volume reached 1.971 million, which was an increase of 83.25% and 75.28% respectively. (Wang Jing)
