Auto sales continued to increase rapidly in the first ten months of 2003. From January to October, sales of passenger cars rose 68 percent year-on-year to 1.6 million units.
The top two companies in terms of sales were two Volkswagen joint ventures. Shanghai Volkswagen, the German automaker's joint venture with Shanghai Automotive Industry Corporation (SAIC), held a 19.3 percent share of the market with 316,307 units sold. FAW-Volkswagen, VW's joint venture with First Automotive Works (FAW), had a 13.7 percent market share with 224,257 units sold.
In third was US-based General Motors, whose JV with SAIC took 9.6 percent of the market with 224,257 units sold.