The Chinese government has outlined its auto export strategy for maintaining steady growth in the auto export industry. It is expected to achieve an annual 10 percent growth from 2009 to 2010 and a 20 percent growth in 2015 with total export value up to 8.5 million U.S. dollars. By 2020, Chinese auto exports will account for 10 percent of total international auto trade.
According to the latest data released by China Association of Automobile Manufacturers (CAAM), from January to October, China exported 248,600 automobiles, down 54.54 percent compared to same period last year. Auto exports still face challenges thanks to rapid growth of the domestic auto market.
China is the second largest auto producer in the world. The auto export and related industry have witnessed rapid growth in recent years. Annual auto exports increased 50 percent from 2001 to 2007 and profits reached 30.2 billion U.S. dollars in 2008. However, the international economic meltdown has lead to a significant downturn in the auto export industry.
