China's car output this year is expected to reach 5.6 million units overcoming that of Russia, to become the world's third largest automaker, China Automotive Industry Association said in Beijing on Wednesday.
China's auto production will maintain the growth rate of 10 per cent this year, with a total output of 5.6 million units, it said.
Domestic experts said steady car prices and the surging domestic demand are the key impetus to the booming auto market in China.
The state information centre forecasts that China's auto demand in the whole year will be about 5.8 million units, and it will rise to 6.5 million next year, indicating great potential for the auto market.
In the first ten months this year, China's auto production and sales volume reached 4.62 million units and 4.59 million units, up 9.18 per cent and 11.04 per cent year-on-year respectively, the CAIA said.
Sources from Beijing's largest auto market - Yayuncun said the national capital city has sold 310,000 new cars in the first ten months this year, equal to the total of last year, and the annual total is expected to exceed 350,000 units.
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