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China Association of Automobile Manufacturers (CAAM) reports that the sale of China auto surges 84 percent at last month because of China"s 4 trillion yuan stimulus package. Auto experts believe that the loose money policies boost the whole industry and its influence continues by the end of this year.
Mr.Qin Xuwen, an analyst of the Orient Securities, says to English. that auto sales rely heavily on policies. It"s hard to predict the sales outlook for next year because we don"t know whether the government will renew the tax cuts. If the policy can go on, China auto market will be robust.
Chinese automaker SAIC reports its net profit for first nine months of this year jumping more than 70 percent. Chongqing Changan Automobile Company"s third-quarter net profit will be between 267.2 million yuan and 327.2 million yuan. Compared the early stage of this year, it plays a very good performance.