China’s automobile output and sales are both expected to hit a record nine million units this year, the state media reported.
The figure, compared with an initial target of 8.5 million, would enable China to reach its automobile production and sales targets for the 2006-2010 period three years in advance, vice president of the China Machinery Industry Federation, Zhang Xiaoyu said.
China’s auto industry has maintained strong momentum in the past five years, with output soaring by an annual average of 26 per cent.
Last year China surpassed Japan to become the world’s second largest auto market, with total sales of 7.2 million vehicles and output of 7.3 million.
China produced 4.5 million vehicles in the first half of 2007, up by 22.4 per cent compared to the same period last year, while sales rose from 23.3 per cent to 4.4 million, China Association of Automobile Manufacturers (CAAM) said.