(Yicai) July 17 -- China's auto exports to Argentina surged 147 percent in the first five months of this year from a year earlier, with Chinese carmakers entering the market through a network of local peers and dealers, while their local investment layout is still in its early stages.

China exported around 30,000 cars to Argentina in the five months ended May 31, with an average price of USD14,500 per unit, according to the latest data released by Cui Dongshu, secretary general of the China Passenger Car Association.

BYD, Great Wall Motor, Chery Automobile, JAC Motors, and Geely Automobile Holdings were among the leading Chinese carmakers selling autos in Argentina. In addition, Beiqi Foton Motor has started assembly in the country with local partners.

Sales of Chinese vehicles in Argentina reached 6,273 units last month, doubling their market share to 14 percent from a year ago, data from the Cámara de Importadores y Distribuidores de Automotores showed.

Affected by high inflation, rising credit rates, and tight US dollar foreign exchange reserves, Argentina's vehicle consumption declined in the first half of this year from a year earlier, with light car sales falling 11 percent to 278,000 units, according to data from the Asociación de Concesionarios de Automotores de la República Argentina.

Argentina has implemented a zero-tariff import quota system for new energy vehicles, opening the door for Chinese imports. Its previous stricter policies had raised the access threshold for overseas carmakers, but relevant reforms gradually eased control and, along with new energy tax exemptions, led to a strong recovery in its car market last year.

Editor: Martin Kadiev