Gap between automobile exports and imports may continue to grow
Updated: 2011-10-18 15:45
(autonews.gasgoo.com)
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With growth in the automobile industry in China slowing down this year, the gap between vehicle exports and imports seems to be continuing to widen.
According to China Association of Automobile Manufacturers (CAAM) statistics, passenger vehicle imports in August totaled 316,177 units, 83 percent higher than last year, while exports from that month hit a record 223,776, 37 percent higher than 2010. CAAM officials attributed the deficit to recovery in overseas markets, as well as the state of the domestic market this year.
China's automobile export market is still very much in the infancy stages, with its present target markets being Southeast Asia, Africa, South America and the Middle East. The country still requires a strong international brand.
Meanwhile, the overall share of vehicles made by domestic manufacturers fell from over 40 percent in July to 38 percent in August.
