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China car exports up almost 50 percent in 2011

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China car exports up almost 50 percent in 2011

Chinese automobile exports in 2011 reached 814,300 units, accounting for an increase of 49.45 percent over the previous year, according to a report from the Nanfang Daily newspaper quoted by autonews.gasgoo.com.

The near 50 percent year-on-year growth rate is a new record for the Chinese automobile industry. Chinese automakers including Chery, Great Wall, JAC and others have managed to gain significant market share in overseas markets. For instance, Chery shipped 160,200 cars oversear in 2011, 73 percent more than in 2010, company spokesman Jin Yibo said. Great Wall managed to export 83,117 vehicles last year, while JAC saw its exports more than double in the same period of time.

Last year saw a major shift for Chinese exports as far as destination markets are concerned. In 2010, China’s largest foreign markets were Algeria, Vietnam, Egypt, Syria and Chile. However, increasingly unstable political environments in the Middle East have determined Chinese manufacturers to concentrate on other regions. China exported more cars last year in South America. Brazil has become one of the most important markets for Chinese automobile exports, despite the country’s tax hike on imported vehicles enforced since last September.

by Dan Mihalascu (my Google+) - Friday, January 20th, 2012 - filed under Industry, News. Image credit: .
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