China's Jan-Oct 2008 Vehicle Sales Up 11%

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Shanghai, November 10, 2008: (Gasgoo.com) China's vehicle output and sales both grew 11 percent from January through October compared with one year ago, official data showed last week.

"China produced 8.02 million motor vehicles and sold 7.94 million units for the January to October period, representing a growth of 11.01 and 11.11 percent respectively," data from China Associations of Automobile Manufacturers (CAAM) said Friday.

The output figure included 5.71 million passenger vehicles, up 11 percent year on year and 2.31 million commercial vehicles, up 11.05 percent from the same period of last year.

Total sales figure included 5.64 million passenger vehicles, up 11.07 percent year on year and 2.30 million commercial vehicles, up 11.22 percent from a year earlier.

The growth rate in the second half year slowed down because of sales declines in the sluggish global markets. In October alone, vehicle outputs were 704,900 units, down 7.82 percent month on month and 1.15 percent year on year.

Auto sales reached 715,700 units nationwide last month, down 4.77 percent over the previous month but 3.37 percent up year on year.

China's top ten automakers in terms of Jan-Oct vehicle sales were SAIC Motor Corp, FAW, Dongfeng, Changan, Beijing Auto, Guangzhou Auto, Chery, Brilliance Auto, Hafei and Auhui Jianghuai.

The ten automakers sold 6.64 million unit vehicles in the period, accounting for 84 percent of the total figure.

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