China's 2005 auto sales could exceed three million

Thursday, 13 October 2005 11:31:24 (GMT+3)   |  
       

China’s 2005 auto sales could exceed three million

China's automotive sales volume for September was 286'300, up 40'000 units and 16 percent month on month. Sales volume through the first nine months of the year totaled 2'258'544 units, up 21.9 percent year on year. The volume is higher than the anticipated growth rate of 10 percent in early 2005, and puts China on pace to hit sales of more than 3 million vehicles. Private and new type state-owned enterprises' strides in technology and quality, plus their competitive prices, have seen China's domestic brand names rapidly increase their share of the sedan market. The cumulative sales growth rate of Geely, Chery, Xiali and Hafei ranged between 30 to 90 percent compared to last year, and is likely to reach 40 to 100 percent. Some new models will be put into market at the end of 2005 or early 2006.

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