China's 2006 automobile output ranks third in the world

SteelOrbis Shanghai According to the figures released by the China Machinery Industry Federation on February 9, China's 2006 automobile output has already exceeded that of Germany to become third in the world, behind the US and Japan. In 2006, Chinese automotive vehicle production reached 7.28 million, up 1.57 million or 27.6 percent year on year. Of this figure, car production totaled 3.87 million, up 1.1 million or 39.7 percent. The car-to-automotive vehicle ratio rose to 53.15 percent in 2006, compared to the increase of 48.49 percent in 2005. China's automotive vehicle exports and imports reached 342,400 and 228,000, up 98.13 percent and 40.85 percent year on year respectively. Last year, the automotive industry recorded a total profit of RMB 76.8 billion ($9.9 billion), up 46 percent compared with the previous year. In addition, China's automotive vehicle output in January 2007 reached 761,900, up 12.6 percent month on month and 45.03 percent year on year.