Manufacturing News

China to produce 5.83 million vehicles

China will produce 5.83 million vehicles in 2005, up 15 percent over last year, according to the Ministry of Commerce.

China will produce 5.83 million vehicles in 2005, up 15 percent over last year, according to the Ministry of Commerce.

The ministry also predicted that the demand for vehicles will be 5.75 ones, up 12 percent on a year-on-year base.

According to the ministry, because of the sharpening of competition, the scrap of import quota on vehicle products, the lowering of tariffs,the readjustment of Renminbi, and the increase of fuel price, the price of vehicles will go down by a small margin this year.

In June this year, the ministry launched a survey on auto market among major producers, retailers and wholesalers of vehicle, and experts.

In the nearly 10,000 questionares collected back, 51.2 percent said the price of vehicles will maintain stable in the second half this year, while the other 42.8 percent said it will go down.

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