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China’s auto exports once again experienced negative growth in October, which is the third consecutive month that auto exports have fallen year-on-year since August.
According to the latest statistics from the China Association of Automobile Manufacturers, automakers’ exports in October both showed a significant drop from the previous year and the same period of the previous year. In the same month, only 39,500 vehicles were exported, a year-on-year decrease of 18.04% and a year-on-year decrease of 18.30%.
Among them, commercial vehicles fell the most, only to export 15,700 vehicles, a decrease of 28.63% from the previous quarter and a further decrease of 31.12% year-on-year. Passenger car exports were 23,800, a decrease of 9.16% month-on-month and a year-on-year decrease of 6.87%.
However, the association stated that despite the sluggish automobile exports in the second half of the year, the situation is still growing positively throughout the year. In the first 10 months, China exported a total of 546,800 vehicles, an increase of 27.41%, of which 308,900 were passenger cars, an increase of 39.85% year-on-year, and commercial vehicle exports were 237,900, an increase of 14.22% year-on-year.