Vehicle exports slump 23% in August
China's vehicle exports continued to decline steadily in August with shipments plunging 23 percent from a year earlier to roughly 52,200 vehicles, according to the China Association of Automobile Manufacturers.
For the month, passenger vehicle exports fell nearly 20 percent to 33,000, while commercial vehicle exports decreased 7.6 percent to 19,200 vehicles.
Through the first eight months, China's vehicle exports dropped nearly 15 percent from the same period last year to 498,000 vehicles.
For that period, passenger vehicle exports slumped nearly 17 percent to 286,700 vehicles, while commercial vehicle exports dropped almost 13 percent to 211,300 vehicles.
To revive foreign sales, two private domestic Chinese automakers -- Chongqing Lifan Industry Co. and Great Wall Motor Co. -- each launched construction of assembly plants in Russia in August. Russia is the Chinese auto industry's biggest foreign market.
Other Chinese automakers also are investing in foreign production. Last month, SAIC-GM-Wuling Automobile Co. broke ground on a $700 million (4.5 billion yuan) assembly plant in Indonesia. The venture plans to sell microvans and small MPVs in that market under its Wuling and Baojun brands.
SAIC-GM-Wuling is a 50.1-44-5.9 joint venture among SAIC Motor Corp., General Motors and the Liuzhou government in southwest China's Guangxi region.
Through the first eight months, China's vehicle exports dropped nearly 15 percent from the same period last year to 498,000 vehicles.
For that period, passenger vehicle exports slumped nearly 17 percent to 286,700 vehicles, while commercial vehicle exports dropped almost 13 percent to 211,300 vehicles.
To revive foreign sales, two private domestic Chinese automakers -- Chongqing Lifan Industry Co. and Great Wall Motor Co. -- each launched construction of assembly plants in Russia in August. Russia is the Chinese auto industry's biggest foreign market.
Other Chinese automakers also are investing in foreign production. Last month, SAIC-GM-Wuling Automobile Co. broke ground on a $700 million (4.5 billion yuan) assembly plant in Indonesia. The venture plans to sell microvans and small MPVs in that market under its Wuling and Baojun brands.
SAIC-GM-Wuling is a 50.1-44-5.9 joint venture among SAIC Motor Corp., General Motors and the Liuzhou government in southwest China's Guangxi region.
