China's auto exports in August down 18% m/m

Shanghai, October 10 (Gasgoo.com) China's auto exports shrank 18% in August from that of July to 57,531 vehicles, according to the latest figure released by the China Association of Automobile Manufacturers (CAAM).

The combined value of imports and exports rose 31% to US$7.417 billion in August, of which the value of imports declined 7.60% month on month to US$2.713 billion, but had a 22.58% increase year on year. The value of exports was 4.704 billion, down 1.53% month on month but up 23.32% year on year.

The data further showed that China's vehicle exports to Vietnam dropped 73% month on month in August to 859 units, and meanwhile car exports to Ukraine also slid by around 50% month on month to 3,814 units, though exports to the country in the first eight months still grew 103% year on year. The exact reason behind the decline is not unclear yet.

The total value of China's auto products imports and exports rise to US$48.818 billion between January and July, about 37% rise from one year earlier. Of this total, the value of imports grew 37.12% to US$19.27 billion while the value of exports rose 38.39% to 29.548 billion.