China's auto exports decline amid weak overseas markets
Abstract
Citing China Association of Automobile Manufacturers (CAAM) data: in January–April 2015, China exported 245,000 vehicles, down 14.6% year on year — passenger vehicles 136,700 (–20.7%), commercial vehicles 108,300 (–5.5%). Exports had already been falling since January (61,800 units, –37.4% month on month, –10% year on year); April was the worst month so far at 61,600 units, down 11.8% month on month and 21.5% year on year. CAAM forecast full-year exports of about 860,000 units (–5%): passenger 510,000 (–4%), commercial 350,000 (–5%).
The article notes vehicle exports accounted for 18% of the total vehicle import-export value in 2015, down 23 percentage points from a 40% peak in 2007. Cui Dongshu, secretary-general of the China Passenger Car Association, attributed the decline to sustained RMB appreciation against a weak global economy, and to sluggish markets such as Russia and Brazil; he expected the decline to stabilise around 900,000 units. On the positive side, a self-brand insider said companies were still building manufacturing and marketing networks in Russia and the Middle East; Chery's He Xiaoqing cited new product launches, service-quality improvement and brand building as responses.
Key facts
- Jan–Apr 2015 exports: 245,000 units, –14.6% YoY (passenger 136,700, –20.7%; commercial 108,300, –5.5%)
- April 2015: 61,600 units, –11.8% MoM and –21.5% YoY — the year's largest monthly drop
- CAAM forecast: about 860,000 units for 2015 (–5%); passenger 510,000, commercial 350,000
- Export share: vehicle exports accounted for 18% of import-export value, down from a 40% peak in 2007
- Commentary: Cui Dongshu (CPCA) — RMB appreciation and weak markets such as Russia and Brazil; expected to stabilise around 900,000
- Brand response: building production and marketing networks in Russia and the Middle East; Chery cited new products, service and brand building
The original article is in Chinese; see the Chinese version for the full text. This page provides the English title, abstract and key facts only — translated and compiled from the original, without full verbatim translation.