China’s auto export up 64% in the 1st 3 quarters
China has exported 413,500 complete finished vehicles in the first 3 quarters, up 64% year-on-year, while the export revenue reached US$4.8 billion in total, more than double the figure in the same period last year, according to a report on Chinese auto industry released by the Ministry of Commerce.
In the first 9 months, China has exported US$1.75 billion worth of commercial vehicles, accounting for 36.5% of the total export revenue, and US$694 million worth of passenger cars, contributing to only 14.45% of the total amount.
In terms of export volume, trucks and sedan accounted for 50% and 30% of the total export separately.
The Ministry forecasted that auto exported from China would easily exceed 550,000 units and may hit record high of 600,000 units by the end of this year.
However, the unhealthy competition in the auto market attributed greatly to the descending export price. In the firsts 10 months, the number of the passenger cars exported from China surged 211.4%, while the value only jumped 174.3%.
The fastest growth was seen in the exports of sedans and off-road vehicles. In the first 10 months, exports of sedans and off-road vehicles edged up 250.63% and 258.96% respectively.
Tags: Auto, export