China sees monthly declines in auto output, sales
China's automobile sales and output posted month-on-month declines in July due to power shortages and hot weather. The Chinese Association of Automobile Manufacturers (CAAM) disclosed that the country's vehicle output fell 10.7 percent month on month to 444'900 units in July. Furthermore, sales of domestically made vehicles fell 16 percent to 433'200 units, CAAM added. On the other hand, vehicle output rose 25.6 percent and sales increased 25.2 percent compared to the same period last year. CAAM indicates that the monthly decline in production mainly resulted from fewer working days at auto plants due to hot weather and power shortages. China's five largest automakers – First Automotive Works Corp., Shanghai Automotive Industry Corp. (SAIC), Dongfeng Motor Corp., Chang'an Motor Corp and Beijing Automotive Industry Corp. – posted lower sales in July compared to June. China's vehicle sales are expected to grow 10 percent this year. Sales had grown 15 percent in 2004 and an astonishing 75 percent in 2003.