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China's Auto Output to Grow 10% to Hit 15 mln in 2010
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16:50PM
Source:SMM

BEIJING, Jan. 13 -- China's total automobile production is expected to grow about 10% to 15 million in 2010, according to official statistics released by the China Association of Automobile Manufacturers, the official Xinhua News Agency reported on Monday.

The Chinese government this year will continue to support the auto industry, said Dong Yang, executive vice chairman of the association, adding that the auto industry would continue to see rapid growth in the next decade as it has become a pillar of the economy.

China's market still enjoyed abundant potential, as living standards improved and the average auto ownership remained low, said Dong.

Figures from the CAAM show that China became the world's top auto maker and market in 2009 thanks to government stimulus policies. The country's auto output and sales rose 46.15% and 48.3% year on year to 13.64 million units and 13.79 million units, respectively.  

In January last year, to boost the country's auto industry, the Chinese government launched stimulus measures that included tax cuts on purchases of small vehicles and subsidies for purchasers in rural areas.

 


 

automobile
China economy macroeconomy
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