Auto industry climate index slightly down in Q2

Source: Global Times
[17:01 July 21 2010]
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The Auto industry climate index ended its rising momentum for a third consecutive quarter and the figures downed slightly, according to "China Q2 Automotive Industry Climate Index", released by the National Bureau of Statistics of China Economic Prosperity Monitoring Center and Beijing Sinotrust Co., Ltd. Wednesday.

According to the index, though the confidence index of entrepreneurs in the auto industry fell in Q2 compared with that of Q1, they are positive towards the Q3 auto market trend.

Hui Yumei, a research manager from Sinotrust Co., Ltd. said: "currently, manufacturers have sensed the growth slow-down in Q3."

It is predicted that by the end of 2010, car sales domestically may reach 17 million units, up 25 percent year-on-year.