China's auto import, export plunge in Jan-Feb

Shanghai, April 9 (Gasgoo.com) China's import and export of automobiles both plunged in the first two months this year. The auto import fell by 30% from a year earlier and auto export dropped by more than 60%, said Guangzhou Daily today, citing the latest data from China Customs.

In January and February, China exported 40,000 vehicles, valued at $630 million, down 61.7% and 49.8% respectively from a year earlier. The vehicle export in Feb fell to the monthly lowest level since 2007.

China's auto-parts exports revenue in the first two months totaled $1.57 billion, down 37.7% year on year. Of the total, the exports revenue in Feb was $560 million, down 49.9% y/y.

China Customs said that Europe, the U.S. and other major destinations of Chinese auto-parts exports have suffered from the persistently lowering demand of the auto market, which has also had big impact on Chinese manufacturers of auto parts.