China Travel & Tourism News
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China to be world's 3rd largest carmaker
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| 14-Mar-2005 - Xinhua |
Zhu Yanfeng, a deputy of the National People's Congress and General Manager of China First Automobile Group, revealed today that China's auto output would increase to 6 million units in 2005 and would possibly surpass Germany to become the world's third largest carmaker.
Zhu indicated that China manufactured a total of 5.1 million automobiles last year, and the figure was expected to increase 20% this year. Germany manufactured 5.5 million units in 2004, making it the third largest carmaker, behind the US and Japan.
Millions of Chinese are now able to realize their dreams of becoming a car-owner thanks to increasing incomes. China has also become the fastest growing auto market in the world. At present, foreign carmakers are investing billions of US dollars to expand their production in China, aiming to meet the continuously increasing auto demand.
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| 14-Mar-2005 - Xinhua |
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