China Auto Output May Reach 15 Mln Units by 2008

China auto output may hit 15 mln vehicles by 2008, the official China Securities Journal reported, citing an official from the National Development and Reform Commission (NDRC).

The newspaper quoted Zhang Guobao, the deputy head of NDRC, as saying that the country's rapid growth in exports has cut the long-term trade deficit in automobiles in recent years.

In 2006, China became the world's third largest auto producing nation and the world's second largest market for new vehicle sales.

Automakers in 2006 produced 7.28 mln vehicles, up 27.32 pct.

Auto production may hit 8.5 mln vehicles this year, up more than 15 pct, the report said, citing the China Association of Automobile Manufacturers.

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