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The auto market in China, which has been through a slower period since May 2004, is now recovering, according to the latest statistics released by the China Automotive Industry Association.
The association said that in the first nine months of the year through September, China produced 4.2 million car units and sold 4.1 million units, up 8.2 percent and 10.1 percent respectively on the same period last year.
In September alone, the country's car output reached 501,700 units, up 13.5 percent from August. Sales stood at 496,000 units, an increase of 18.4 percent.
China's top ten automakers, which include the Shanghai Automotive Industry Corp., Dongfeng, Chang'an, Chery, and Jianghuai produced a total of about 3.5 million cars during the January-September period, accounting for 83 percent of the country's total.
In terms of sales volume, the Xiali topped the list, with sales of 133,800 units, followed by the Elantra at 131,200 units.
In 2004 China became the world's third largest car market. Experts predict that China's demand for vehicles will hit 5.9 million units this year, and that the figure will exceed 10 million by 2010.
(Xinhua News Agency October 14, 2005)
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