Jiangsu sells more automobiles abroad
(Xinhua)
Updated: 2006-09-17 09:37
The economically dynamic Jiangsu Province of East China exported 4,478
motor vehicles in the first eight months of this year, up 38.7 percent on last
year.
According to customs sources in Nanjing, the provincial capital, the exported
vehicles were valued at US$42.44 million, up 90.2 percent.
More than half of the motor vehicles were sold to Asian countries and
regions. In the January-August period, exports to these areas accounted for
US$19.47 million, or 50.4 percent, of the province's total, the sources said.
In the eight months, Jiangsu also sold US$9.13 million worth of vehicles to
Latin America, up 440 percent, and US$3.88 million worth of vehicles to Europe,
up 75.5 percent.
Most of Jiangsu's vehicle exports were trucks and large and medium-sized
buses. Their manufacturers all have intellectual property rights and their own
brands.
But industry insiders have pointed out that the profit margins are low as
exporters continue to slash prices in order to compete with each other.
(For more biz stories, please visit Industry Updates)
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