Since I’ve been writing for TTAC, I have kept my eyes on exports from China, which according to popular wisdom, will take over the world. The truth about Chinese car exports is that they aren’t happening in the grand scheme of things. Keep that in mind when you will hear reports about skyrocketing Chinese exports.
China’s auto exports rose 76.79 percent from a year earlier to 384,300 units in the January-September period of 2010, says the Xinmin Evening News (via Gasgoo), citing data from the China Association of Automobile Manufacturers (CAAM). 196,600 passenger vehicles and 187,700 commercial vehicles were exported.
Big HOWEVER: While China became the world’s largest car market in 2009, its exports, as little as they were, had taken a dive with the rest of the world. In all of 2008, China had exported 680,700 cars. In 2009, car exports had dropped by 46 percent to 369,600 units. In the same year, China imported 420,800 units. The value of the imports (usually more upscale models) was $15.3b, beating exports 3:1. This year, imports to China are beating exports by an even wider margin. With 384,300 units exported in the first nine month, China is far off 2008 export levels. The truth about Chinese car exports: They are slowly coming back, but aren’t what they used to be. And they never were much.
Possibly, this will change. Ironically, with the help of foreign joint venture partners. In the lead: GM.