From January to June China managed to export 487,900 cars, up 28% from the same period last year.
Despite sluggish sales and a weak global economy, the world’s top automaker, managed to export 487,900 vehicles. In 2009 China became the world’s largest automobile producer and market with sales of almost 14 million vehicles annually.
But experts say that even if the country’s share has grown in the global market, the Chinese car makers are still facing major challenges in their plans of going global. Due to the rising cost of labor and materials, the appreciation of China’s currency and the companies’ lack of a clear overseas development strategy, the competitive Chinese market has started to drop.
Geely said sales in the first half of doubled compared to the same period last year, reporting 6,500 cars in May and over 10,000 units in June. The Chongqing-based LIFAN Group sold 4,545 cars in Russia in the first quarter, an increase of 69% and Chery’s exports accounted for 2.5 times that of last year. Great Wall Motor exported 9,000 cars in Russia, up 32% from last year. All in all China’s auto sales in the first half of 2012 reached 9.6 million, an increase of 2.93% year-on-year.