Exports of finished vehicles increased by 79% last year mainly for commercial vehicles

According to recent data from the China Association of Automobile Manufacturers, despite the ongoing pressure from the renminbi's appreciation, China's auto exports maintained a strong growth trend in 2007, with total exports reaching 621,700 units—an increase of 78.95% compared to the previous year. This marked a continuation of the rapid expansion seen in the prior year. Additionally, the product structure showed significant improvement, moving away from low-cost competition toward higher-quality and more diverse offerings. At the same time, auto imports also rose sharply, with the composition and quality of imported vehicles shifting significantly. In 2007, commercial vehicle exports remained the dominant segment, accounting for 54.4% of total auto exports, while passenger cars made up 30%. The total import volume reached 314,200 units, a 37.8% increase from the previous year, with a net rise of 86,200 units compared to the same period in 2006. The overall value of auto imports and exports for the year reached $66.878 billion, with exports totaling $40.896 billion—a 45.31% year-on-year increase—and imports reaching $25.798 billion, up 24.45%. Compared to earlier years when exports were scattered, the 2007 auto export landscape saw a more concentrated pattern. By November 2007, Chinese automobiles had been exported to 190 countries and regions worldwide. The top three markets were Russia ($1.2 billion), Iran ($490 million), and Kazakhstan ($446 million), with the top 10 countries collectively accounting for 62% of total export value. Asia, Eastern Europe, and Africa remained the primary destinations, making up nearly 90% of all auto exports. Despite the impressive growth, macroeconomic challenges began to affect the industry. Dai Jiahui, director at Kearney, highlighted three key concerns at the "Automotive Forum" in late January: the impact of the renminbi's appreciation, rising raw material costs (such as metals and oil), and inflationary pressures. To address these issues, he suggested three main strategies: reducing costs through operational efficiency, mitigating currency risks by diversifying export markets and establishing local production or assembly lines, and using financial tools such as hedging and long-term contracts to stabilize prices and manage risk. These steps aim to ensure sustainable growth in the face of increasing global competition and economic uncertainty.

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