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A statistical report released by the National Bureau of Statistics of China (NBS) indicated that 2,261,400 sedans were produced in China last year, up 10.2% from the same period last year.
Of the total production in 2004, only 166,100 sedans were produced in December, a drop of 18.3% from November. The overall trend of automobiles production showed initial growth followed by a sharp fall towards the end.
Jiang Yuan, an officer at the National Bureau of Statistics, pointed out that the fluctuations in sedan production in 2004 was the biggest in the last ten years, with production volume increasing by over 30% in the first two quarters, but dropping sharply in the last two quarters.
Total sedan production in 2004 grew by only 10%, a huge difference when compared with the 50% growth rate in 2002 and the 80% growth rate in 2003. Out of the 14 major sedan manufacturers, only one was able to surpass its production goal set at the beginning of the year. Some of them were only able to reach 50% of their production targets. The total production growth rate was very far behind that of the previous years.
With the reduction in sedan production, the growth of automobile-related companies during this time was also rather slow. In addition, the automobile manufacturing industry is operating at 70% of capacity. This situation is unlikely to improve in 2005, and the utilization rate will continue to hover around its current low level.
(Chinanews.cn January 29, 2005)
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