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Xinhua News Agency, Beijing, January 1 According to the statistics of the National Bureau of Statistics, in November 2003, China produced 202,000 cars, an increase of 71.6% over the same period last year.
Statistics show that after the monthly passenger car output exceeded 150,000 units for the first time in March 2003, it exceeded 200,000 units again in November. Driven by strong automobile consumption, China’s monthly passenger car production hit a record high in 2003.
According to experts from the National Bureau of Statistics, the continuous rise of monthly production shows that the effect of capacity expansion of car companies has started to show. The production capacity formed by a large number of enterprises will enter the market in succession. This has made the car market, which has been in short supply since 2002, shift to a basic balance between supply and demand.
Statistics show that from January to November 2003, a total of 1.8062 million cars were produced nationwide, an increase of 81.4% year-on-year.