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China's automobile production and sales expected to grow 15 percent this year

Beijing, 260608. The development speed of China's commercial vehicles will be slow in 2008, but passenger cars - especially compact car development - will continue to maintain a rapid growth rate. Automobile production and sales are expected to break 10 million in 2008, according to Dong Yang, executive Vice Chairman and Secretary General of the China Association of Automobile Manufacturers.

According to statistics from the China Association of Automobile Manufacturers, the production and sales in China's automobile industry both exceeded 4.3 million in the first five months of this year, up 17 percent over the same period of last year. The average monthly production and sales volume exceeded 860,000. China achieved 8.88 million in production and 8.79 million in sales in 2007.

Source: People's Daily.