Production of vehicles in China in 2004 rose 14.% from the previous year to 5,070,500, surpassing the five million mark for the first time, according to data released from the Chinese Commerce Ministry cited by Kyodo News.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The figure for 2004 is nearly double the production of 2.34 million vehicles in 2001, the report noted, adding that the pace of growth in production dropped from 2003, when production increased by 36.7% and made China the fourth largest car manufacturer in the world.
Kyodo News said the number of vehicles sold rose 15.5% to 5,071,100, almost matching the total of production, but it is unclear if the figure includes inventory at sales outlets that have yet to be sold to consumers.
Production of passenger cars, which led the expansion, rose 12.0% to 2.32 million, while sales rose 15.2% to 2.33 million, the report added.
