Production declined 9.8% from March but inventories are quite low. Production should accelerate soon.
Sales of domestically made vehicles (excluding exports) hit 1.39 million in April, up 9.8 percent from March and 40 percent from the same period last year, the CATRC statistics showed.
Domestic auto makers produced 1.52 million vehicles in April, down 9.82 percent from March but still up 35.18 percent compared with the same period of 2009.(.>.)
According to the CATRC statistics, the number of domestically made autos climbed 60.69 percent year on year to 5.86 million in the January to April period while sales (excluding exports) rose to 4.86 million.
The inventory of domestically made vehicles totaled about 1 million at the end of April.
We can infer that total car sales, including foreign makes, were about 1.7M in April. January-April sales would total over 6.3M vehicles, an annualized rate of nearly 19M vehicles.
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