Rapid growth in local engine export
Statistics from China Association of Automobile Manufacturer Industry shows that between January and March, the total export value of engines, auto parts and tire are 221 million, 3.25 billion and 1.298 billion US dollars respectively. Their corresponding growth rates are 19.42%, 33.16% and 36.89% respectively.
Auto parts and other spare parts export reached a total of 6.062 billion U.S. dollars, accounting for 75.78% of total auto exports.
Compared to the previous month, engine export in March increased by 44.19% to reach 81 million U.S. dollars. Compared to the same period last year, export growth increased by 22.3%. On the other hand, automobile spare parts and accessories export fell to 954 million and 402 million US dollars respectively; down 27.09% and 3.26% respectively.
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