Mainland car exports to leap 60pc as developing market sales grow

China is expected to export 800,000 vehicles next year, a jump of 60 per cent over this year, primarily by selling its own brands overseas, according to an official from the Ministry of Commerce.

Zhang Qi, the vice-minister of the department of mechanics, electronics and high-technology in the ministry, said yesterday that China should be able to export a planned 500,000 vehicles this year, up from 340,000 vehicles last year.

Mr Zhang said the gains in exports will come as Chinese carmakers boost sales of their own brands in developing markets such as the Middle East, South America and Africa and should point to sales of 800,000 cars next year.

'Chinese carmakers will strategically and naturally turn to overseas markets because the domestic market is competitive, especially for self-branded vehicles,' he said.

According to figures from the China Association of Automobile Manufacturers, the mainland exported 413,900 vehicles in the first three quarters, a 64.01 per cent surge from a year earlier.

The association also said the value of vehicle exports rose to US$28.88 billion, a 40.83 per cent year-on-year growth in the first nine months.

Among the 340,000 exported vehicles last year, 85 per cent were Chinese brands rather than those made in China for other carmakers such as Honda Motor, Toyota Motor or Volkswagen.