China's Automobile Production and Sales Exceed 5 Million in H1

In the first half of 2008, Chinas automobile market saw a modest decline regarding the speed of increase while the growth rate still rose quickly. Both the production and sales of automobile broke through 5 million, reaching 5,199,600 and 5,182,200 respectively. Generally, in the first half year, the automobile market presented the following characteristics: `. The car production and sales maintained a fast growth rate, with the speed of increase declined modestly. The automobile production and sales were up 16.71% and 18.52% respectively. And affected by the appreciation of Renminbi, the rising of raw material prices and labor costs, natural disasters and other factors, the increase rate of automobile production and sales was down by 5.65 and 4.78 percentage points respectively. a. The overall passenger vehicle market was stable with a slowed growth rate for the limousine market. The sales volume of passenger vehicles hit 360.9 million, up 17.07% year on year, among which the sales of limousine reached 2,667,600, up 16.72% year on year, and the speed of increase declined significantly, reaching 9.2 percentage points. b. The sales of commercial vehicles were above the average level, and truck and semi-trailer truck had an outstanding performance. Sales of commercial vehicles hit 1,573,200, up 21.98% year on year, with the growth rate 3.46 percent point higher than the average level of the automobile market. The sales of trucks were 1,247,600, up 20.86% year on year. c. The imports and exports of automobile maintained a steady growth, with a higher speed of increase for export than import. From January to May, the import value of automobile was USD13.287 billion, up 40.26% year on year, while the export value was USD20.391 billion, up 42.16% year on year, 1.9 percentage points higher than that of import. The import volume of automobile reached 171,400, up by 58.94% year on year, while the export volume was 310,600, a surge of 70.60% year on year, with a surplus of 139,300. d. The key enterprises performed well and maintained a relatively high level of market share. The total sales volume of

the top ten automobile manufacturers reached 4.3497 million, accounting for 84%, and among which, the five major groups SAIC, FAW, Dongfeng, Chang’an Group and Beijing Auto sold 3,497,900 in total , occupying 2/3 of the auto market share.