BEIJING: China’s vehicle exports tumbled in the first half of this year. Government figures show that export shipments of vehicles and chassis in the first six months totalled 340,000 units, 10.8% down on the same period of last year. Vehicles, chassis and auto parts brought in a total of $27 billion, a fall of 6.3% on last year’s figure.
Commercial vehicle exports slumped by 33.4% in the first half of the year to around 114,000 units, while passenger car exports dipped by 6.5% to about 200,000 units, according to the China Association of Automobile Manufacturers. Analysts say that a number of significant China export markets are experiencing weaker demand for autos this year, including the Middle East, South America and Africa.
CAAM found that Latin America, Eastern Europe and Southeast Asia were the major automobile export destinations, continuing last year’s distribution pattern. Research by Deloitte Consulting shows that Iran was the leading destination for Chinese vehicles last year, accounting for 14% of the country’s auto exports. This was followed by 10% to Vietnam, and 5% to Egypt, Chile, and Venezuela respectively.
