China’s vehicle output is expected to reach 3.9 million units this year, and will possibly exceed 4.0 million units if the domestic industry maintains its strong growth, Business Daily Update said, citing an official from the China Machinery Industry Federation.
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China’s vehicle output exceeded 3.25 million units for the whole of 2002, up 38% year-on-year, with sedan output growing 55% to 1.09 million units, making China the world’s fifth-largest vehicle maker.
The official said China’s vehicle sector posted an industrial output of 118.6 billion yuan for the first two months to February, up 56% year-on-year.
Individual consumers are becoming important buyers in the domestic car market, the official added.
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