China produces 20 new sedan models in 2001
( 2002-02-02 14:28 ) (8 )

The China Machinery Industry Federation said Friday that China produced some 20 new types of sedan last year, three times the total for the past five years.

Sedan production increased rapidly in 2001, with its growth rate 3.7 percentage points higher than the entire automotive industry.

The restructuring of auto companies was also going ahead smoothly, and so far four new companies each with assets exceeding 20 billion yuan (US$2.41 billion) have been formed.

The federation said China is now one of the ten leading automakers in the world and is expected to produce more than 800, 000 motor vehicles this year.