China Q1 auto export down 62% to 61,000 units

Shanghai, April 15 (Gasgoo.com) Despite the rally in domestic sales, China's automakers suffered a big fall in the overseas market during the first three months of this year, state media said today.

China exported 61,000 vehicles in the first quarter, a plunge of 62.06% from a year earlier, according to the country's Customs data. In January and February, China exported 40,000 vehicles, a 61.7% decline year on year. The export volume of 16,000 units in February, down 66% y/y, hit a monthly low since 2007.

Auto export revenue in the first two months declined 49.83% y/y to $708 million. Exports of sedans fell 71.03% to 11,300 units, suffering the biggest decline. Analysts said the sharp fall is a big blow to China's auto industry, and government departments are urged to help speed up Chinese automakers' overseas growth.

"Market demand has been shrinking everywhere outside China. So, it's not unusual to have such an export figure," an expert noted. Russia, one of the key export destinations for Chinese vehicles, took a series of protectionist measures in recent months.

Meanwhile, auto imports to China also saw a downturn in the Jan-Feb period, with the import value falling 27.88% to $3.33 billion.

In the domestic market, however, China's auto output and sales in March both reached 1.09 million units and 1.11 units, up 35.59% and 34.10% respectively from a year earlier.