Global fears of a world wide recession, and rising oil prices have not put a dent in Chinese automobile sales over the past 6 months, with sales of just less than 1 million cars each month. Also, the figure quoted does not include imported cars, but rather is for domestically made vehicles only.
China Daily gives us the low down:
China was expected to sell a record 5 million domestically-made automobiles in the first six months, the latest figure released by the China Association of Automobile Manufacturers showed.
The figure was generally in line with the association’s forecast, based on the fact that about 4.5 million homemade autos were produced and sold in the first five months of 2008.
The production and sales volume rose 17.05 percent and 18.91 percent year on year respectively.
Of the total, the country produced 3.04 million and sold 3.02 million passenger vehicles during the period, up 16.33 percent and 17.41 percent from last year.
The production and sales of commercial vehicles hit 1.31 million and 1.32 million, a rise of 18.75 percent and 22.48 percent.