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China becomes net exporter of cars, trucks
(AP)
Updated: 2005-12-22 15:20
China says it has become a net exporter of cars and trucks for the first
time, with new Chinese competitors such as Geely Group and Chery Automotive
starting to win market share in 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 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 $10,000,
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."
Geely's two mainland auto companies �� Zhejiang Geely Automobile Co. and
Shanghai Maple Guorun Automobile �� sold a total of 96,683 sedans in 2004, up 27
percent from 2003.
The company says it has just over a 4 percent share of China's market for
passenger cars.
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