Auto production up nearly 23% in 1st 10 months

China produced 7.22 million motor vehicles in the first 10 months of 2007, up 22.6 percent over the same period last year, the China Association of Automobile Manufacturers announced on Friday.

The total included 5.14 million passenger vehicles, up 21.7 percent, and 2.08 million commercial vehicles, up 24.88 percent.
 
Auto sales also grew rapidly during the period, sources said.

Between January and October, 7.15 million motor vehicles were sold nationwide, up 24 percent over the same period a year earlier.

The total included 5.08 million passenger vehicles, up 23.6 percent, and 2.07 million commercial vehicles, up 25.1 percent.

Last month, 713,100 passenger vehicles were produced, down 5.8 percent from September, but up 21.11 percent over October 2006.

In addition, 692,300 passenger vehicles were sold in October, down 10.41 percent from September, but up 20.12 percent over the same month last year.

Market analysts said the decrease in auto sales and output in October was due to the National Day holiday. They predicted sales and output in 2007 would hit 85 million units respectively.

The association noted that the 10 biggest automakers sold 5.96 million vehicles for an 83 percent market share.