| China's automotive output hits 10 mln mark |
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| Wednesday,October 21,2009 Posted: 16:46 BJT(0846 GMT) |
| From:bh Article type:Original |
China's automotive output hits 10 mln mark
October 20(Xinhua Net)-China's production of automobiles since the beginning of this year hit 10 million units on Tuesday, making it the third country in the world to surpass the annual output mark, according to the China Association of Automobile Manufacturers (CAAM).
Only the United States and Japan have previously passed the annual production figure of 10 million.
Chinese Vice Premier Zhang Dejiang referred the achievement as a "milestone in the Chinese history of auto industry development" in a congratulatory letter to industry representatives at a celebration sponsored by the CAAM and China Society of Automotive Engineering at the First Automobile Works (FAW) Group Corp. headquarters in
China's automotive industry has sustained a robust growth despite the global economic slowdown this year, thanks to the government support package for the sector at the beginning of the year.
Under the package, the government lowered the purchase tax on cars with engines under 1.6 liters from 10 percent to 5 percent, allocated allowances to farmers to upgrade farm vehicles and to mini-truck and mini-van owners to upgrade their vehicles.
As a result, the country's auto output surged 78.85 percent year-on-year to 1.36 million units in September, while total sales hit a new monthly high of 1.33 million units, up 77.88 percent from a year earlier, the CAAM announced in a release on Oct. |
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