China auto export to top 500,000 mark

According to Fu Peizhao, Vice secretary general of China Chamber of Commerce for Import and Export of Machinery and Electronic Products (CCCME), China's vehicle export will reach 510,000 units and its export value will hit 5.6 billion dollars in year 2007.

China's auto exports hit a record high of 343,500 units in 2006, and export value were 3.1 million dollars, more than double of 2005's figure, according to the Ministry of Commerce (MOC). Exports in the first quarter of 2007 were up again, by nearly 100% compared with the same period in 2006. Exports and exports value were 141,800 units and 1.6 billion dollars respectively, up 41% and 51% y-o-y. If this trend continues, China is well on its way to reach 510,000 vehicle exports in 2007, said Fu.

China's auto exports concentrate mainly on commercial vehicles, which accounts for 65% of the total vehicle export, and 72% of the total export value. Sedan exports take up 35% percent currently, but the latest statistics show that exports of sedans has increased significantly in the first half of 2007.

China is eyeing exports to European countries in the near future as it has already expanded its exports to Asia, the Middle East and Africa.