Chinese Auto Makers Expect to Sell 16 Million Vehicles in 2010

The auto industry in China has been able to achieve a great level of success even as the global economy attempts to make a rebound from the credit crisis that struck in the last few years. The first 7 months of 2010 have been good for car makers in China with a great deal of investments tied to fixed assets finding a high level of growth. Exports of vehicles from China are still not doing so well, according to the China Association of Auto Manufacturer’s data released this August. Dong Yang, the Secretary General of the group has said that it was able to increase the target auto sales for 2010 up a full million to 16 million from the previous 2010 estimate and that this new figure is largely due to the promising market for cars that China now enjoys. The group’s stats also show that the level of output from the auto industry in China has earned well over 2 trillion yuan between January 2010 and June 2010 – an amazing improvement and nearly 50% better than the exact same period of months in 2009. Still between January and May of 2010, the growth rate for that figure did decline 5%.

There are 17 major car makers in China right now that are producing the bulk of the profits for the market and each of them are showing growth on a level that is consistent with the overall average for 2009 and 2010, showing that the nation’s industry is most likely experiencing stable and sustainable growth, Chinese experts say. The reasonable growth levels, say analysts in China, are bound to attract more investors to help grow China’s car production.

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