From January to July, sales of growth rate recorded only 2.3%-3.2%, which is reported the lowest rate.
It is reported that from January to July equipment manufacturing industry grew by 15.9% versus that of last year while Auto Industry demonstrated slow production and sales volume which were 10.4624 million and 10.6018 million, which grew respectively by 41.47% and 39.37%.
August saw production and sales volume reaching 1.393million and 1.3811million, up 6.66% and 8.29% against that of last month and 8.72% and 4.15% versus that of the same period of last year. Accumulated production and sales volume from January to August were 11.8552 million and 11.9836 million, increasing 3.04% and 3.33% than that of the same period of last year.
In the last decade, annual growth rate of domestic Auto Industry averaged 25%. Since financial crisis in 2009, production and sales in auto industry grew at a high speed which was reported at 44% and 43% form January to July in 2010.
No stimulus policy is expected. Auto industry market presented insipid with bearish prospect currently