China to stand as world's 3rd largest car producer
(Xinhua)
Updated: 2005-12-07 17:18

China's car output in 2005 is expected to reach approximately 5.6 million units, which will exceed Russia's to be the world's third largest auto maker, said sources with the China Automotive Industry Association (CAIA).

The latest statistics from the CAIA said that China's auto production will maintain a high-speed of 10 percent growth rate this year, with the total output to hit 5.6 million units.

Domestic experts said steady car prices and the surging domestic demand are the key impetus to the booming auto market in China.

The State Information Center forecasts that China's auto demand in the whole year will be about 5.8 million units, and it will rise to 6.5 million next year, indicating great potential for the rising auto market.

In the first ten months this year, China's auto production and sales volume reached 4.62 million units and 4.59 million units, up 9.18 percent and 11.04 percent year-on-year respectively, said the CAIA.

Sources from Beijing's largest auto market -- Yayuncun market said the national capital city has sold 310,000 new cars in the first ten months this year, equal to the total of last year, and the annual total is expected to exceed 350,000 units.