Chinese auto exports to rise 50% in 2012, trade group predicts
China's vehicle exports may rise about 50 percent this year, extending record shipments in 2011, according to the China Chamber of Commerce for the Import & Export of Machinery & Electronic Products.
Total auto exports increased at the same pace last year to 849,914 units, said Yang Aiguo, deputy secretary general of the chamber's auto department, citing customs bureau data.
"Demand for vehicles has been picking up in developing markets such as Russia, Saudi Arabia and Brazil," Yang said in a phone interview today. "Chinese automakers are actively investing in overseas markets."
Carmakers in China are expanding overseas to help offset slowing domestic sales as more plants open and local demand cools. Vehicle sales grew 2.5 percent last year, trailing growth in the U.S. for the first time in at least 14 years.
Russia was the biggest export destination for Chinese-made vehicles last year, followed by Algeria and Russia, according to LMC Automotive. Other major export markets included Chile, Iran, Iraq, Peru, Syria, Egypt and Uruguay.
