Home>News Center>China

China may top Germany as No.3 auto maker
Updated: 2005-11-13 10:24

China's assemblers are likely to make and sell 6.4 million passenger cars, vans, buses and trucks in 2006, spurring the nation to surpass Germany as the world's third-largest vehicle maker, according to government research.

A car dealer in Nanjing, east China's Jiangsu Province, promotes car sales by offering discount up to 5,000 yuan off in this October 22, 2004 file photo. In the past few months, China’s sedan sales have stalled, auto production has shrunk and fat profit margins have evaporated. [newsphoto]
Vehicle sales in Asia's second-largest economy may rise by up to 13 percent this year to 5.6 million units, according to a paper presented at a National Development and Reform Commission conference today in Beijing.

The growth forecast follows a recovery in consumer spending in the world's second most-populous nation, with the economy expanding 9.4 percent in the third quarter. General Motors Corp. and DaimlerChrysler AG said they sold more vehicles in China in the first nine months of 2005, even as sales fell in North America and Europe.

``The demand for vehicles will continue as long as the government continues to foster automotive lending and make easy financing available,'' said Zhu Baoliang, the chief economist of the government's State Information Center.

Rising income and easier loans by General Motors Acceptance Corp. and other lenders spurred more people to buy cars. In the last 12 months, Ford Motor Co., Volkswagen AG, Toyota Motor Corp. and DaimlerChrysler all set up ventures in China to lend money to car buyers, in a country where up to 80 percent of vehicles were sold by cash.
Page: 1234

President Hu in Madrid
Blasts hit chemical plant in Jilin
New Airforce uniform
  Today's Top News     Top China News

China mulls deregulating energy prices



6 missing, 70 injured in chemical plant blasts



Leaders expected to focus on economic ties



Special prisons for HIV/AIDS inmates



Processed poultry: Strict checks ordered



Briton claims to have beaten HIV virus


  Five officers punished for deaths of 85 in Typhoon Longwang
  President Hu arrives in Madrid for state visit
  At least 30 wounded in chemical plant blasts in Jilin
  'China has its own version of bird flu drug'
  Donald Tsang urges support for HK democracy
  16 killed in Inner Mongolia colliery blast
  Go to Another Section  
  Story Tools  
  Related Stories  
Nissan motor to enter Chinese market
Hot car sales in China cool down
China's car makers ready to go global?
  News Talk  
  It is time to prepare for Beijing - 2008  
Manufacturers, Exporters, Wholesalers - Global trade starts here.