China National Bureau of Statistics and Sinotrust Jointly Release '2010 Q1 China Automotive Industry Climate Index'

Climate Index Hitting Record Highs - Cautious Forecast of Future Trends

BEIJING, April 22, 2010 - The China National Bureau of Statistics and Sinotrust jointly release the
"2010 Q1 China Automotive Industry Climate Index."

    1. The China Automotive Industry Climate Index records 105.8 points in Q1
       of 2010 (2001=100), up 3.8 points over the fourth quarter of 2009.
    2. The Pre-warning Index in Q1 of 2010 registers 133.3 points, 16.6
       points higher than in Q4 of 2009, showing a recovery trend in the four
       consecutive quarters, approaching the "Yellow Zone" and the "Red
       Zone," and showing a "heating-up" status.
    3. The Auto Industry Entrepreneur Expectation Index registers 115.6
       points in Q1 of 2010, down as much as 11.4 points from Q4 of 2009.
    4. The Dealer Manager Index registers 97.9 points in Q1 of 2010, below
       100 points for the first time ever.

The following trends were observed during the survey: First, the index of
Q1 continues to increase, hitting an historic record high. Secondly, the
Automotive Industry Climate Index keeps climbing with the indicators of
production, sales, profit, tax, etc. recording different increases; and the
indicators of export, number of employees, etc. taking a dramatic turn for
the better. Thirdly, the indicators of car production, profit, etc. enter the
Red Zone, whereas the accounts receivable stay in the Blue Zone, showing that
automakers are facing increasing pressure on capital turnover. Finally,
entrepreneurs are optimistic about the market development, but the Dealer
Manager Index records a significant drop.

Although generally being optimistic towards the future trend, we should
be aware of the pressure from rising costs of the industry and from slightly
deteriorated accounts receivable and losses. Both automakers and the
government should pay attention to the operational risks facing the
automotive industry in the future.

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    Business Contact
     Yumei HUI
     Tel: +86-10-5926 7560 / +86-10-5926-7608
     Email: huiyumei@sinotrust.cn

    Media Contact
     Sophia LIU
     Tel: +86-10-5926-7722
     Email: liuqian@sinotrust.cn

Yumei HUI, +86-10-5926-7560, +86-10-5926-7608, huiyumei at sinotrust.cn, or Sophia LIU, +86-10-5926-7722, liuqian at sinotrust.cn