China's auto market,
relatively stagnant since last July, showed signs of recovery
in March.
China's six major automobile producers reported each
auto sales of more than 20,000 in March, 138,480 cars in total,
up 85 percent over February, the paper says.
The First Automotive works (FAW) ranked first with
25,326 units sold in March, Shanghai General Motors ranked second
with 25,260 units and Shanghai Volkswagen was third with 23,478
units.
Chinese consumers are beginning to buy vehicles after
adopting a wait-and-see attitude for several months. Insiders
say the competition for the auto market is fierce this year.
China's auto sales increase suddenly dropped to zero
last July from a 40-percent monthly increase in the first five
months of 2004, as a price war broke out among the country's auto
manufacturers.
In 2001, 750,000 cars were sold in China. The number
jumped to 1.2 million in 2002; it topped 2 million in 2003.
Experts forecast that by 2005, about 42 million Chinese
families will be able to afford cars. In 2025, China is expected
to take the place of the United States as the world's largest
car consumer.
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