Auto market maintains blistering pace

China's automotive market continued its blistering pace into the third quarter of the year, with October light vehicle (LV) sales up 69 percent year-on-year.

Growth dropped slightly from September, which was up 75 percent, but we expect to maintain these levels for the closing two months of 2009.

Total demand for LVs rose to 1.17 million units in October, including 812,000 passenger vehicles (PVs) and 363,000 light commercial vehicles (LCVs), up 68 percent and 71 percent respectively.