An automobile expert predicts that China's
automobile market is to grow by 10 to 12 percent
in 2005, with a market scale of more than 5.6 million units despite
a profit drop last year.
Chief analyst with the China Automobile Consulting Corporation
Jia Xinguang says the auto market is still set to see a production
surplus and fierce competition this year due to increasing production
capacity.
In 2004, nearly one third of automobile manufacturers
have experienced losses and one third of auto dealers have left
the business because of rising production costs and sustained
price reductions.
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