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Feb. 6 (Bloomberg) -- China’s vehicle exports may rise about 50 percent this year, extending record shipments in 2011, according to the the China Chamber of Commerce for the Import & Export of Machinery & Electronic Products.
Total auto exports increased at the same pace last year to 849,914 units, said Yang Aiguo, deputy secretary general of the chamber’s auto department, citing customs bureau data.
“Demand for vehicles has been picking up in developing markets such as Russia, Saudi Arabia and Brazil,” Yang said in a phone interview today. “Chinese automakers are actively investing in overseas markets.”
Carmakers in China are expanding overseas to help offset slowing domestic sales as more plants open and local demand cools. Vehicle sales grew 2.5 percent last year, trailing growth in the U.S. for the first time in at least 14 years.
Car shipments more than doubled to 372,035 units, exceeding trucks for the first time last year, Yang said. Automakers sold 298,763 trucks overseas in 2011, he said.
Russia was the biggest export destination for China-made vehicles last year, while Brazil posted the fastest growth in terms of volume, said Yang.
--Tian Ying. Editors: Chua Kong Ho, Frank Longid
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