News Flash: Chinese car makers are jumping on the export bandwagon
In the news that everyone didnt already know:
CHINA exported 36.3 percent more complete vehicles and vehicle products in the first quarter than it did a year earlier as a result of greater demand for cost-competitive cars in world markets.
Meanwhile, China posted an 18.5 percent increase in vehicle product imports during the period.
The export value of complete cars and components such as engines and chassis reached US$7.9 billion during the quarter, and imports totaled US$5.4 billion, according to the China Association of Automobile Manufacturer, citing China Customs.
Last year, exports in the sector were valued at US$28 billion and imports at US$21 billion.
Chinese vehicle makers, including Chery Automobile Co Ltd, Great Wall Motor Co Ltd and Changan Groups, are aggressively selling their cars in overseas markets.
Sedans remained the driving force for the export growth, accounting for 25 percent of all complete car exports.
First-quarter sales for Chery, which ranked No. 3 overall in China, reached 44,568 units, powered by exports that doubled to 10,000 units.
Chinese SUVs seem to be really popular in developing countries, many of the smaller not so famous brands, Tianma for example, seem to base their SUVs off double cab pick up trucks with a roof and extra seating. Sedan wise, we guess that will be Chery and Geely leading the pack.