Auto output hits 10m mark
By Jin Jing |
October 21, 2009, Wednesday
|
Print Edition
Print Edition
CHINA'S auto production hit the 10-million mark for the first time this year yesterday, and propelled the country to rank third after the United States and Japan to achieve the milestone.
With a growing domestic economy and low market penetration for automobiles, China may overtake the US as the world's largest auto market this year.
But analysts said China also needs to focus more on industrial consolidation, technology innovation and building its own brands as the country drives its fast growing auto industry to be globally competitive.
The 10 millionth car, a Jiefang-branded truck, rolled off the assembly line yesterday at First Automobile Works Group in Changchun in the northeast Jilin Province.
"It took China 17 years to boost the output to 10 million units from 1 million vehicles in 1992," said Miao Wei, vice director of the Ministry of Industry and Information Technology. "China has not only become a major country for auto production in the world but also a competitive auto country."
China's auto industry was the first to emerge from a global auto slump this year, boosted by government subsidies and lower taxes.
Auto sales in China grew 34 percent to 9.66 million units for the first nine months of this year and full-year sales are expected to top 12 million units, according to the China Association of Automobile Manufacturers.
Meanwhile, China is pushing forward aggressive plans to promote new-energy vehicles and self-branded vehicles to accelerate the development of its own auto industry after years of doing assembly work for international giants.
Xu Jianyi, chairman of FAW, admitted that despite great achievements Chinese car makers still lag behind global rivals on core technologies.
China will invest 10 billion yuan (US$1.47 billion) in research and development of new-energy vehicles over the next three years.
Eight models, including BYD's F3 dual-mode electric car, have received production permits, paving the way for China to have 500,000 green cars on the roads by 2011.
With a growing domestic economy and low market penetration for automobiles, China may overtake the US as the world's largest auto market this year.
But analysts said China also needs to focus more on industrial consolidation, technology innovation and building its own brands as the country drives its fast growing auto industry to be globally competitive.
The 10 millionth car, a Jiefang-branded truck, rolled off the assembly line yesterday at First Automobile Works Group in Changchun in the northeast Jilin Province.
"It took China 17 years to boost the output to 10 million units from 1 million vehicles in 1992," said Miao Wei, vice director of the Ministry of Industry and Information Technology. "China has not only become a major country for auto production in the world but also a competitive auto country."
China's auto industry was the first to emerge from a global auto slump this year, boosted by government subsidies and lower taxes.
Auto sales in China grew 34 percent to 9.66 million units for the first nine months of this year and full-year sales are expected to top 12 million units, according to the China Association of Automobile Manufacturers.
Meanwhile, China is pushing forward aggressive plans to promote new-energy vehicles and self-branded vehicles to accelerate the development of its own auto industry after years of doing assembly work for international giants.
Xu Jianyi, chairman of FAW, admitted that despite great achievements Chinese car makers still lag behind global rivals on core technologies.
China will invest 10 billion yuan (US$1.47 billion) in research and development of new-energy vehicles over the next three years.
Eight models, including BYD's F3 dual-mode electric car, have received production permits, paving the way for China to have 500,000 green cars on the roads by 2011.
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