China July auto export down 61% to 22,400 units

Shanghai, August 11 (Gasgoo.com) China exported 22,400 automobiles in July, a plunge of 61.19% from a year earlier and 26.76% from the previous month, according to the latest statistics released by the China Association of Automobile Manufacturers (CAAM), Beijing Times said.

As China's auto exports have been sliding this year to date, the total exports of China-made vehicles in the first seven months stood at 164,800 units, down 60.3% year on year.

Top executives of some Chinese auto companies said that the auto exports slide can be attributed to two major factors: the overseas auto market demands were still sluggish due to the lingering impact of the global financial crisis, and meanwhile some countries had set up barriers to prevent imports of Chinese vehicles.

China's auto imports slumped 34% year on year during the first half of 2009 to 141,000 units, because ports and auto dealers had built up a large inventory by the end of last year. According to CAAM data, SUVs made up 55% of China's total auto imports in the January-June period.

Local dealers have also drastically cut their import orders due to a pessimistic prediction of the future auto market.