China’s auto exports and imports continue to rise
The decline in the auto exports growth was mainly due to the U.S. credit crisis, rising fuel prices, mounting production costs at home and RMB appreciation, said the Customs.
In a separate statement, the customs revealed that China imported 212,000 vehicles in the Jan.-Jul. period, up 53.2% from the same period of last year, or 18.3 percentage points higher than the year-earlier level, as a result of a growing number of foreign automakers entering the Chinese market and weakening demand from the U.S. and European markets.
The export value for the first half rose 89% from a year earlier to US$4.62 billion, while the import value amounted to US$7.74 billion, representing a year-on-year increase of 71.3%.
Of the total, auto exports to Russia totaled 48,000 units, a year-on-year increment of 26.2%, and that to ASEAN member nations recorded a 270% increase to 54,000 units, of which 46,000 were sold to Vietnam, up 300% year on year.
Domestic automakers exported 264,000 units, up 72.4% and accounting for 73.2% of the country’s total, including 176,000 units and 75,000 units reproduced by state-owned enterprises and private companies respectively.
During the period, 108,000 off-road units were imported, accounting for 51.5% of the total. About 92,000 vehicles imported have engine displacement of at least 3L each, a year-on-year rise 86.9%.
Japan, the EU, the Republic of Korea and the U.S. are still the four largest import destinations of China.
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