Beijing, China, Dec 23 – China’s exports of cars and trucks have exceeded imports for the first time after more than doubling in the first ten months of 2005, the Xinhua news agency reported Friday.
Auto exports from January to October were up 133.5 percent in an annual comparison, with 7,000 more vehicles being exported than imported from new car plants such as Geely and Chery, which are starting to enter markets in Asia, Africa and the Middle East, Xinhua said.
Michel Dunne, head of Beijing-based consultancy Automotive Resources Asia, said Chinese auto exports in 2005 are set to reach 125,000 units. Between 20 percent and a quarter of these vehicles are produced by Chery and Geely – two manufactures selling cars overseas for less than 10,000 euros.
“Chinese factories are facing increasing competition in domestic markets so they must export to survive,” said Dunne.
Annual auto sales in China are around the 5 million mark, with most foreign manufacturers producing or assembling their models in Asia’s emerging superpower. (macauhub)