Growth in China auto exports slows in first half year
Wednesday, 20 August 2008
BEIJING, Aug. 19 (Xinhua): China's auto exports grew at a slower pace in the first half, due partly to the U.S. credit crunch, rising oil prices, mounting production costs at home and appreciation of the Chinese currency, the General Administration of Customs said today.
From January to June, China exported 361,000 motor vehicles, a growth of 58.5 per cent on the same period of last year. However, the growth rate was 17.1 per centage points lower than the year- earlier level.
The exports were valued at 4.62 billion U.S. dollars, up 89 per cent. The growth rate was 28.2 per centage points lower.
Of the total, 48,000 motor vehicles were sold to Russia, up 26.2 per cent, compared with the 300-per cent growth rate a year earlier.
However, sales to ASEAN member nations soared 270 per cent to 54, 000 units, including 46,000 to Vietnam, up 300 per cent.
Domestic automakers accounted for 73.2 per cent, or 264,000 of the total vehicle exports, up 72.4 per cent. Of these, 176,000 were produced by state-owned enterprises, up 58.3 per cent, and 75,000 by private companies, up 89.2 per cent. The growth rates were 29.2 per centage points and 9.5 per centage points, respectively, lower than the year- earlier level.
From January to June, China exported 361,000 motor vehicles, a growth of 58.5 per cent on the same period of last year. However, the growth rate was 17.1 per centage points lower than the year- earlier level.
The exports were valued at 4.62 billion U.S. dollars, up 89 per cent. The growth rate was 28.2 per centage points lower.
Of the total, 48,000 motor vehicles were sold to Russia, up 26.2 per cent, compared with the 300-per cent growth rate a year earlier.
However, sales to ASEAN member nations soared 270 per cent to 54, 000 units, including 46,000 to Vietnam, up 300 per cent.
Domestic automakers accounted for 73.2 per cent, or 264,000 of the total vehicle exports, up 72.4 per cent. Of these, 176,000 were produced by state-owned enterprises, up 58.3 per cent, and 75,000 by private companies, up 89.2 per cent. The growth rates were 29.2 per centage points and 9.5 per centage points, respectively, lower than the year- earlier level.