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On November 4th, at the 5th China Automobile Industry Development Summit held in Nanjing, Zhang Xiaoyu, Chairman of the China Association of Automobile Engineering, stated that the total vehicle production this year will reach more than 7 million vehicles, which will be for SAIC, Dongfeng and FAW Group. The output will exceed one million vehicles and have international competitiveness.
Zhang Xiaolu said that in 2005 China achieved a total vehicle export exceeding the total amount of imports. From January to September 2006, China's auto production was 5.28 million, which continued the trend in 2005 and showed several characteristics: the increase in automobile exports was greater than the increase in imports, and the annual export value was expected to exceed 20 billion U.S. dollars; the output of automobile manufacturers increased. 25%, while corporate profits increased by more than 50% over the same period, the annual industry profit is expected to exceed 70 billion; the self-owned brand growth rate exceeds that of the joint venture.
The increase in the output of the main brand reached 40%-80%; the growth rate of small-displacement cars was about 60%. However, the production of cars only increased by 10%, which is not satisfactory.
It is worth mentioning that from January to September this year, China’s auto exports amounted to 16.9 billion U.S. dollars, and vehicle exports will increase substantially on the basis of 160,000 vehicles in 2005. It is estimated that the total vehicle exports will be around 250,000 vehicles this year. Zhang Xiaolu said that during the “Eleventh Five-Year Plan†period, China’s auto industry will take the adjustment structure as the main line, realize capital structure adjustment, build a multi-variable investment system, promote the organizational structure adjustment based on groupization, increase the share of independent brand products, and increase autonomy. The goal of innovation capability, the increase in market share of a million-unit group.
Zhang Xiaoyu predicts that in 2007 China's auto production is expected to exceed 8 million vehicles. From this year to 2010, the Chinese auto industry is expected to maintain a double-digit growth rate every year. By 2010, China's total automobile output will reach 8-10 million.