| China's auto industry faces grave situation in production and sales |
| Written by delly onil | ||||||
| Monday, 27 October 2008 | ||||||
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According to the production and sales data of the first three quarters released by the China Association of Automobile Manufacturers recently, 7,313,100 and 7,229,200 vehicles ...
According to the production and sales data of the first three quarters released by the China Association of Automobile Manufacturers recently, 7,313,100 and 7,229,200 vehicles have been produced and sold from January to September, up 12.35 percent and 11.94 percent than the same period of last year. 5,103,200 passenger vehicles have been sold, up 11.36 percent than the same period of last year. And the growth has dropped by 5.71 and 12.48 percentage points respectively compared with 17.07 percent in the first half year and 23.84 percent in the same period of the previous year.
In addition, 552,800 passenger vehicles were sold in September, down by 1.44 percent than the same period of last year. Sales growth further declined compared to the first eight months. The auto industry still faces a grave overall situation in production and sales.
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