Profits in China's auto industry grew 47.5 percent to 52.9 billion Yuan (US$6.6 billion) over the first three quarters year on year, fueled by a sales spurt, according to the National Development and Reform Commission.

The profit growth, however, was 11 percentage points lower last year as fierce competition dragged down car prices. Total vehicle sales hit a record 5.17 million units from January through September, an increase of 25 percent, while passenger car sales soared 31.3 percent to 3.68 million units.

Vehicle production increased 24 percent to 5.59 million during the same period, including 2.97 million cars.

Source:佚名