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China becomes net auto exporter
(AP)
Updated: 2005-12-22 13:38
BEIJING (AP) _ China says it has become a net exporter of cars and trucks for
the first time, with new Chinese competitors such as Geely and Chery starting to
make their mark in the markets of Asia, Africa and the Middle East.
Exports jumped by 133.5 percent in the first 10 months of this year, giving
China an export surplus of 7,000 vehicles, according to the official Xinhua News
Agency.
Beijing has been promoting the growth of its automakers in recent years as
foreign suppliers expand in China, which is expected to become the world's
biggest car market.
The report Wednesday by Xinhua didn't give detailed figures for China's auto
exports.
But Michael Dunne, president of Beijing-based consulting firm Automotive
Resources Asia, said China's exports in 2005 would probably reach about 125,000
units.
Some 20 to 25 percent of that total is likely to be made up of vehicles made
by Chery and Geely, two Chinese brands that sell abroad for less than US$10,000
(euro8,500), said Dunne.
"Chinese automobile manufacturers are facing an increasingly competitive
market at home," he said. "They are high volume producers. To compete and
survive, they need to export worldwide."
He said these vehicles have US$2,000 to US$4,000 (euro1,700 to euro3,400)
price tags at home, where sales are concentrated in relatively poor areas, away
from big eastern cities.
"In places like Beijing and Shanghai, they are not considered very
attractive," he said.
China's domestic auto sales now total about 5 million vehicles per year, with
most foreign brands manufactured locally or assembled from imported parts.
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