Compared with the continuing downturn in China's domestic auto market, the growth rate of China's auto exports has started to rebound in February this year, and the volume of Chinese auto imports has also shown a substantial increase during the same period.
Recently, the China Association of Automobile Manufacturers stated that in February of this year, Chinese auto manufacturers had completed a total of 61,223 auto exports, an increase of 8.72% from the previous period and a year-on-year increase of 41%. Both ring growth and year-on-year growth have significantly accelerated over the previous month, and export growth has resumed.
According to models, the growth rate of passenger cars and commercial vehicles in China has increased. In February, the number of passenger vehicles exported by Chinese automakers increased by 10% from the previous month, which represented a year-on-year increase of 39%. Over the same period, the number of exporters’ vehicles increased by approximately 7% from the previous month and increased by 44% from the same period last year.
Among the major varieties of Chinese auto exports, cars and trucks remain the two main forces. The export of these two varieties accounted for 77% of the total auto exports.
In addition, in February of this year, China Customs imported 98,874 vehicles, a year-on-year increase of 62%, of which imports of passenger cars increased by approximately 61% year-on-year. According to reports, in the first two months of this year, the total amount of car imports from China Customs was 181,570, which was a year-on-year increase of 25%, of which the growth rate of cars was the most obvious. From the perspective of the number of imported cars from different brands, BMW, Mercedes-Benz and Lexus ranked in the top three, Volkswagen came in fourth, and Audi ranked fifth.
Industry insiders pointed out that with the development of the regional economy and the increase in consumer demand, China’s second- and third-tier market share will add new impetus to the growth of China’s imported automobile market. In addition, this year is expected to have nearly 30 new cars and 12 new generation imported cars to enter the market. This new product effect will also contribute to the steady and rapid growth of China's imported auto market this year.
Recently, the China Association of Automobile Manufacturers stated that in February of this year, Chinese auto manufacturers had completed a total of 61,223 auto exports, an increase of 8.72% from the previous period and a year-on-year increase of 41%. Both ring growth and year-on-year growth have significantly accelerated over the previous month, and export growth has resumed.
According to models, the growth rate of passenger cars and commercial vehicles in China has increased. In February, the number of passenger vehicles exported by Chinese automakers increased by 10% from the previous month, which represented a year-on-year increase of 39%. Over the same period, the number of exporters’ vehicles increased by approximately 7% from the previous month and increased by 44% from the same period last year.
Among the major varieties of Chinese auto exports, cars and trucks remain the two main forces. The export of these two varieties accounted for 77% of the total auto exports.
In addition, in February of this year, China Customs imported 98,874 vehicles, a year-on-year increase of 62%, of which imports of passenger cars increased by approximately 61% year-on-year. According to reports, in the first two months of this year, the total amount of car imports from China Customs was 181,570, which was a year-on-year increase of 25%, of which the growth rate of cars was the most obvious. From the perspective of the number of imported cars from different brands, BMW, Mercedes-Benz and Lexus ranked in the top three, Volkswagen came in fourth, and Audi ranked fifth.
Industry insiders pointed out that with the development of the regional economy and the increase in consumer demand, China’s second- and third-tier market share will add new impetus to the growth of China’s imported automobile market. In addition, this year is expected to have nearly 30 new cars and 12 new generation imported cars to enter the market. This new product effect will also contribute to the steady and rapid growth of China's imported auto market this year.
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