According to the report issued on November 9 by the China Association of Automobile Manufacturers (CAAM), China's automobile production and sales in October this year declined slightly on month-on-month basis while indicating a surge year on year. In the first 10 months of this year, a year-on-year slowdown was observed in the increase rate of automobile production and sales, though the output and sales volumes for the period in question exceeded the volumes for the whole of 2009.
According to the CAAM data, China's automobile production and sales in October this year reached 1,541,000 units and 1,538,600 units respectively, down 3.26 percent and 1.16 percent month on month and up 22.5 percent and 25.47 percent year on year respectively. In the first ten months of 2010, China's automobile production and sales totaled 14,623,800 units and 14,677,000 units respectively, up by 832,800 units and 1,032,200 units respectively compared to the whole of 2009, and up 34.49 percent and 34.76 percent from the same period of 2009. As of the end of October this year, inventories of domestic automobile producers stood at 542,100 units, up 2,900 units from the end of September.
In addition, in October this year the exports of domestic automobile producers totaled 50,100 units, up 4.53 percent month on month. In the first 10 months of this year, the exports in question aggregated 434,400 units, up 74.74 percent year on year. Moreover, the aggregate sales income of the 17 key enterprises in the domestic automobile industry in the first nine months of the current year amounted to RMB 1,549.566 billion ($233 billion), up 46.7 percent from the corresponding period of 2009.