By Wang Qing　

Date: 2004/11/23

Abstract:    

During the third quarter, sales of passenger vehicles continued to decline, and supply continued to exceed demand. Composite price index dropped 11.95％ from the beginning of the year. This year's accumulative output and sales of passenger vehicles are estimated to grow 15％ and 10％ respectively. The gap between demand and supply will stay around 300,000 and price index will continue to drop by approximately 2％. Current situation shows that, like the earlier "wait-and-see with cash in hand" consumer attitude, the continuous deterioration of consumption environment has constituted another bottle-neck for the growth of the passenger vehicle sector. It will be a long-time issue on the development of China's passenger vehicle industry.