China's automobile output is estimated
to reach 5.6 million this year, up 12 percent over 2004, said
a senior official with China Automobile Association Monday.
The output of sedans is expected to reach 2.6 million, up 15 percent,
said Jiang Lei, executive vice-chairman of the association, at
a press conference in Beijing on the upcoming 11th Shanghai International
Automobile Exhibition.
In the first quarter of this year, China's automobile output rose
10 percent over the previous year. The annual growth is predicted
to be 12 percent, and the next three years should see approximately
the same growth, said Jiang.
The increase will be even higher in 2008, thanks to the boost
from the Beijing Olympic Games, he added.
Jiang said that last year China¡¯s automobile output
exceeded five million, going beyond the actual market need and
therefore leading to constant price falls. The country¡¯s
top five automakers now have taken more than 60 percent of domestic
market shares.
The biennial Shanghai auto show will be held from April 22 to
28, with a total exhibition area of 120,000 square meters, a new
record for the country¡¯s auto shows.
|