China doubles auto exports in 2006
Financial Express January 01, 2007 BEIJING:
China, aiming to conquer 10 per cent of the global auto market, has exported a record 3.4 lakh units in 2006, the Ministry of Commerce said in Beijing on Monday. Sedan exports topped 90,000 units, a 200 per cent increase on the previous year, said an MOC official. Customs statistics show that China's vehicle exports surged 120 per cent from 78,000 units in 2004 to 173,000 units in 2005, with export volume hitting USD 1.58 billion. "China is aiming to lift the value of its vehicle and auto parts exports to USD 120 billion, or 10 per cent of the world's total vehicle trading volume in the next decade," Vice-Minister of Commerce Wei Jianguo said. Over the past few years, China's exports of vehicles and parts have grown rapidly. In 2005, exports reached USD 10.9 billion, an increase of 34 per cent on the previous year. According to analysts, China was expected to produce and sell more than seven million units in 2006 and overtake Germany to become the world's third largest automobile producer.
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