BEIJING – China sold 14.67 million automobiles in the first 10 months of 2010, up 35 percent from the same period last year, according to the latest data released by China Association of Automobile Manufacturers (CAAM) on November 9.
That’s already one million units more than the 13.64 million vehicles sold in all of 2009.
Passenger vehicles accounted for more than three quarters of the entire market during the January-October period, with sales up 35.53 percent to 11.1 million units, while commercial vehicle sales were up 32.4 percent to 3.57 million units.
Sales of SUVs and microvans in the passenger vehicle sector passed the one and two million-unit historical marks, respectively. Semi-tractor trailers remained as the top growth gainer in the commercial vehicle sector, with sales nearly doubling to 305,800 units.
China’s top 10 automakers by sales volume – SAIC, Dongfeng, FAW, Chang’an, BAIC, GAC, Chery, BYD, Brilliance and JAC – sold a combined 12.75 million vehicles, accounting for 87 percent of the total market.
Auto export continued to rebound during the period, with volume surging nearly 75 percent to 434,400 units.
If the market averages at least the October sales of 1.54 million vehicles in the remaining two months, which is more than likely considering that over the last 10 years (except in 2008 that was affected by the world financial crisis) November and December sales have always exceeded those of October, then whole year sales could approach or even top 18 million units. At the beginning of the year, the consensus in the industry was that sales in 2010 would increase about 10-15 percent to over 15 million units.