Booming China's car output soars, but price war looms

Newswire

SHANGHAI, Aug 19 (Reuters) - Car output in China soared 70.6 percent year on year in July to 170,900 units, the second-highest month of 2003, but the country's statistics agency warned on Tuesday of a second-half price battle that could pinch margins. Output over the first seven months in the world's fastest growing major car market leapt 94.8 percent year on year to 1.07 million cars -- surpassing the 1.06 million in all of 2002, the State Statistical Bureau said on its Web site at ...

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