Chinese car makers see export rebound
By Jin Jing |
June 11, 2010, Friday
|
Print Edition
Print Edition
SALES by major Chinese auto makers in overseas markets have rebounded since the beginning of this year, but an analyst said growth in vehicle exports is unlikely to accelerate for the rest of the year.
Vehicle exports nearly doubled to 47,100 vehicles in May from a year earlier, according to the China Association of Automobile Manufacturers. The exports increased 19 percent from April.
Passenger car exports jumped an annual 180 percent to 25,400 units in May, or 55 percent more than April. Exports of commercial vehicles surged 45 percent to 21,700 units, but down 7.2 percent from April.
Although China's vehicle exports grew strongly so far this year, the overall volume remained low, CAAM said.
After three years of robust growth, China's exports were hit hard last year as overseas demand for lower-price Chinese vehicles shrank amid the global financial crisis.
"Generally speaking, China's vehicle exports are negligible compared with the overall vehicle sales," said Wang Liusheng, an auto analyst at China Merchants Securities. "That prompted car makers to see it is more important to shift their focus to the domestic market."
Last year, China's overall vehicle sales gained 46 percent to more than 13 million units, making it the biggest auto market for the first time.
Vehicle exports, however, fell 46 percent from 2008 to 369,600 units last year. In 2007 vehicle exports peaked at 612,700 vehicles.
Wang said the recent rise in vehicle exports is driven by a low comparative base in the same period of last year. "The full-year outlook is still not encouraging," he added.
Chery Automobile Co, the nation's largest maker of own-brands cars, ranked first in vehicle exports for the first five months, with 30,100 units sold overseas, up 171 percent from a year earlier.
Vehicle exports nearly doubled to 47,100 vehicles in May from a year earlier, according to the China Association of Automobile Manufacturers. The exports increased 19 percent from April.
Passenger car exports jumped an annual 180 percent to 25,400 units in May, or 55 percent more than April. Exports of commercial vehicles surged 45 percent to 21,700 units, but down 7.2 percent from April.
Although China's vehicle exports grew strongly so far this year, the overall volume remained low, CAAM said.
After three years of robust growth, China's exports were hit hard last year as overseas demand for lower-price Chinese vehicles shrank amid the global financial crisis.
"Generally speaking, China's vehicle exports are negligible compared with the overall vehicle sales," said Wang Liusheng, an auto analyst at China Merchants Securities. "That prompted car makers to see it is more important to shift their focus to the domestic market."
Last year, China's overall vehicle sales gained 46 percent to more than 13 million units, making it the biggest auto market for the first time.
Vehicle exports, however, fell 46 percent from 2008 to 369,600 units last year. In 2007 vehicle exports peaked at 612,700 vehicles.
Wang said the recent rise in vehicle exports is driven by a low comparative base in the same period of last year. "The full-year outlook is still not encouraging," he added.
Chery Automobile Co, the nation's largest maker of own-brands cars, ranked first in vehicle exports for the first five months, with 30,100 units sold overseas, up 171 percent from a year earlier.
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