Chinese Auto Exports Rise for 6 Months, Huge Market Looms Along Belt and Road
Dou Shicong
DATE:  Oct 26 2017
/ SOURCE:  Yicai
Chinese Auto Exports Rise for 6 Months, Huge Market Looms Along Belt and Road Chinese Auto Exports Rise for 6 Months, Huge Market Looms Along Belt and Road

(Yicai Global) Oct. 26 -- China's automobile exports have achieved steady growth in the past six months.

Countries along the Belt and Road trade route were the main contributors to export growth and the auto market in these areas holds forth great future potential, said Cui Dongshu, secretary general of China Passenger Car Association (CPCA).

China exported 99,550 vehicles in August, up 17.8 percent from a year earlier, thereby achieving steady growth for six consecutive months, customs statistics show. In the first eight months, vehicle exports totaled 648,000 units, an increase of 29.1 percent over the same period last year.

The top countries buying China's auto exports were Iran, Bangladesh and Vietnam. Among them, the number of cars exported to Iran accounted for 25.5 percent of the total, a jump over the 6.8 percent growth tallied in 2012, per data Cui provided.

With massive infrastructure and capital investment mad along the Belt and Road countries, the car market in these areas will bring in huge opportunities that will promote Chinese automobile exports, Cui said, adding that the rebound in resources prices has uplifted the economies of Brazil, Russia and other markets and this has also boosted China's auto exports.

The company plans to sell more than 40 products in more than 70 countries and regions abroad in the next five years and will increase the number of its overseas distributors to 912, and after-sales service outlets to 971 in an effort to achieve foreign sales of 150,000 vehicles in 2020, said Zhu Yanfeng, chief executive of state-owned Chinese auto giant Dongfeng Motor Corp.

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Keywords:   Vehicle Export,Iran,Dongfeng Motor Corporation