BEIJING — Car inventories in China rose during the first quarter of this year to 63,100 units, up 33.6% from like-1999.
Production of luxury cars skyrocketed by 393%, while that of midrange cars fell by 2.6%. Economy car production rose by 114.2%, while production of minicars plummeted 24.6%.
Total motor vehicle production for the three-month period reached 446,400 units, up 10.7% from like-1999. Motor vehicle sales also rose from a year ago, climbing to 445,000 units, an increase of 17.9%.