OVER PRODUCTION TO DRIVE DOWN AUTO PRICE IN CHINA IN 2006
AsiaInfo Services, December, 2005
AsiaInfo Services 12-06-2005 Over Production to Drive Down Auto Price in China in 2006 BEIJING, Dec 06, 2005 (SinoCast via COMTEX) -- The US investment bank Morgan Stanley forecasts in a report that China's auto production will further swell, and intense competition on the market will drive down auto price, profit margin and returns on investment next year. This year, China's auto production utilization is expected to reach 55%, and profits from the industry will fall steeply due to over-production, Chen Qingtai, researcher of Development Research Center of the State Council, expressed similar viewpoint. Recently, Chen Qingtai also said the profit will plummet because huge investment continues to be injected in the industry. Auto sales in China climbed 11.3% over...
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