China's Auto Exports Rise Amid Sluggish Home Sales
China’s domestic auto brands are losing market share erode at home to foreign brands but are enjoying a surge in their nascent export business as global markets recover from the financial crisis.
In May China’s domestic auto brands sold 452,500 passenger vehicles, a 5.91 percent decline year-on year and a 9.91 percent decline from April. Domestic passenger vehicles accounted for 43.39 percent of China’s total passenger vehicle sales volume, a 0.58 percent decline from April and a 2.71 percent drop from a year ago.
During the first five months of 2011 domestic brands sold a total of 2,736,500 passenger cars for a 45.4 percent share of the China market, a 2.49 percent drop from the same period of 2010.
But China’s auto exports reached a record high of 72,100 in May, a month-on-month increase of 6.79 percent and a year-on-year increase speed of 53.03 percent, breaking the previous record set in March, 2008. Passenger vehicle exports totaled 43,700, 18.24 percent more than April and a 71.73 percent jump over May 2010. Commercial vehicle exports totaled 28,400, a 7.06 percent drop from April but a 31.06 percent surge over last May.
From January to May exports totaled 297,100, a whopping 55.6 percent jump over the same period of last year. Exports of passenger vehicles were 167,000 and commercial vehicles were 130,100, representing year-on-year increases of 76.62 percent and 34.98 percent respectively.
During that period China’s top vehicle exporters were domestic brands: Chery Auto, Chang’an Automobile, Jianghuai Vehicle Group and Great Wall Motor with export volumes of 55,200, 35,100, 28,100, 26,800 and respective year-on-year increases of 83.83 percent, 48.36 percent, 222.00 percent and 22.30 percent.
China’s auto exports are mostly to less developed nations of southeast Asia, Africa, South America and India where their low cost attracts buyers. They have achieved no significant exports to the U.S., Europe, Japan, S. Korea, Australia or other developed nations.