China powers up vehicle manufacturing ranks

CHINA DOUBLED its output of motor vehicles between 2001-2005 and the country jumped from the seventh to the third biggest automotive producer in the world last year. According to Auto Industry News, domestic vehicle production rose from 2.05 million units in 2000 to 5.60 million (est) in 2005, with passenger cars increasing their share from 607 000 units in 2000 to 2.75 million. After a period of rapid consolidation, the vehicle output and sales of the country’s top ten manufacturers now account for more than 83% of total industry volume. The sales of the top five Chinese manufacturers were expected to exceed 500 000 units each by the end of 2005. Several hundred new models were launched on the market over the five years. Exports of automotive products were estimated to have outgrown imports in 2005.