Forecast Puts China’s Auto Sales at More Than 8 Million in 2007
22 December 2006
Xinhua. The China Association of Automobile Manufacturers (CAAM) is forecasting that the country’s sales will exceed eight million in 2007.
CAAM earlier predicted that both China’s auto production and sales would exceed seven million in 2006. During the first 11 months this year, China’s auto production reached 6.59 million, a year-on-year increase of 27.92%, while sales rose 25.49% to 6.45 million, according to statistics from CAAM.
By the end of the year, China will overtake Germany to become the world’s third largest auto manufacturer after the United States and Japan, according to the association.
Separately, Xinhua reported that Tianjin Qingyuan Electric Vehicle Co. Ltd. (QYEV)—the makers of the Happy Messenger EV exported to the United States (earlier post)—is building a factory capable of producing 20,000 battery-electric, hybrid-electric and fuel-cell vehicles. This new plant will be the largest electric vehicle plant in China to date.
The plant is expected to be completed by the end of 2007. QYEV expects to export more than 500 vehicles to the United States in 2006.
The company predicts its annual exports will reach 5,000 electric cars to the US and another 5,000 to European and Asian markets within three to five years.
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