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Auto sales recovering, but still not optimistic

(Xinhua)
Updated: 2008-10-18 16:22

China sold 751,500 motor vehicles nationwide in September, representing a growth of 19.48 percent from the previous month but a decline of 2.74 percent from the same month of last year, sources with China Associations of Automobile Manufacturers (CAAM) said on Saturday.

The total sales volume included 552,800 passenger vehicles, up 22.49 percent over August but down 1.44 percent from September last year.

Auto production reached 764,700 units nationwide last month, up 24.24 percent over the previous month, but only 1.02 percent higher than the  same month of last year.

The total output included 555,500 passenger vehicles, up 27.78 percent over August or 2.05 percent on September last year.

Production was 7.31 million units while sales were 7.23 million units in the first nine months of this year, up 12.35 percent and 11.94 percent, respectively, over the year-earlier level.

But the growth rates were 11.91 percentage points and 10.84 percentage points, respectively, lower than a year ago.

The growth was driven down by declines in both output and sales in July and August, the CAAM sources said.

Demand for commercial vehicles ebbed as the Chinese economy slowed down, but that for SUVs (sport utility vehicle) remained strong, the sources added.