China's automobile market rebounded in August with "unexpected" sales numbers, ending the continuous decline of the past four months, thanks to manufacturers' promotions and green subsidies spurring the sales of fuel-efficient vehicles.
China is speeding up the industrialization of new energy vehicles and energy efficient automobiles as a way to offset pressure from booming auto capacity, which will hit 200 million by 2020, government officials said at the weekend.
Shanghai's new energy vehicle output to reach $4.4b
Special Coverage: China's EV industry leaps forward
Kia Motors Co and its Sino-South Korean joint venture, Dongfeng Yueda Kia Automobile Co, have recalled 18,147 vehicles sold in China on Monday due to faulty wiring in the interior lighting panels that might catch fire.
China is drafting new policies and speeding up the implementation of existing policies on developing new energy vehicles, government officials said at the International Forum on Chinese Automobile Industry Development held in Tianjin over the weekend.
The output of new energy vehicles in Shanghai will reach 30 billion yuan ($4.41 billion) by 2012, municipal authorities said Sunday.
Executives from China's auto makers Sunday rejected an official warning that unchecked growth in the industry was leading to excess capacity and could harm the wider economy.
Unchecked expansion of China's auto industry encouraged by local authorities could harm the wider economy, a central government official said Saturday, warning excess capacity must be "resolutely" stopped.
China's auto makers reject 'excess capacity' warning
Shanghai's new energy vehicle output to reach $4.4b
Special Coverage: China's EV industry leaps forward
General Motors said on Friday that its joint venture with FAW Group plans to double production capacity of light commercial vehicles in China.
Ford and its Chinese joint ventures reported sales of 44,047 units in August in China, a 24 percent increase year-on-year,according to data from Ford Motor Co.
GM China, the Chinese subsidiary of US carmaker General Motors, said Thursday its auto sales in August in China rose 19.2 percent from a year earlier to 181,625 units.
China's passenger-car sales grew at a faster pace in August as higher incentives by dealers offset government measures to cool the economy.
China's passenger car sales in August increased 59.26 percent from one year earlier to 977,300 units, the China Automotive Technology and Research Center (CATRC) said Wednesday.
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