China vehicle exports fall as instability roils overseas markets
China's vehicle exports tumbled 22 percent last month, hurt by a rising currency and political instability in key markets, according to the state-backed auto association.
Exports of passenger and commercial vehicles fell to 61,600 units in April, according to the China Association of Automobile Manufacturers.
For the first four months, overseas shipments dropped 15 percent, jeopardizing this year's export goal of 860,000 units, said Shi Jianhua, deputy secretary-general of the association.
In Russia, Iraq and Ukraine, political instability has dampened auto sales. Likewise, weak currencies in Algeria and Argentina have affected demand, with no signs of improvement in those countries, Shi said.
In 2012, China's vehicle exports peaked at 1.06 million units. Last year, exports totaled 910,400 units, according to the association.
Exports of passenger and commercial vehicles fell to 61,600 units in April, according to the China Association of Automobile Manufacturers.
For the first four months, overseas shipments dropped 15 percent, jeopardizing this year's export goal of 860,000 units, said Shi Jianhua, deputy secretary-general of the association.
In Russia, Iraq and Ukraine, political instability has dampened auto sales. Likewise, weak currencies in Algeria and Argentina have affected demand, with no signs of improvement in those countries, Shi said.
In 2012, China's vehicle exports peaked at 1.06 million units. Last year, exports totaled 910,400 units, according to the association.
