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CHINA DATA: China's automobile sales this year may increase by 5% from 2016 to
29.4 million, according to a speech last week by Shi Jianhua, deputy secretary
general of the China Association of Automobile Manufacturers. Production and
sales in the first eight months rose 4.7% and 4.3%, respectively, from a year
ago, led by double-digit gains by SUVs, a sector now dominated by China's local
brands, according to a transcript of the speech posted on the group's website.
Demand for automobiles is being fueled by replacement purchases in the
top-tiered cities and increasing purchases in third- and fourth-tiered cities,