Growth rates for Chinese automobile exports have been fluctuating very drastically as of late. In 2012, as domestic car sales continued to flounder, own brand and joint venture manufacturers began turning their eyes towards foreign markets. As a result, export growth rates reached new highs, with the total export volume for that year exceeding one million units. In contrast, the domestic market has been a lot more promising over the first half of 2013, while export sales have fallen by nearly one percent.
Unlike several other nations, Chinese automobile manufacturers don’t specifically rely on any one particular region for export sales. In 2010, top ten buyers of Chinese cars accounted for less than 50 percent of all automobile exports, proving the diversity of their target audience. That figure surpassed the 50 percent mark in the years 2001 and 2012, before falling again to below 50 percent this year.
Another unique characteristic about the Chinese automobile export market is which nations vehicles are destined for. In 2010, the top three buyers of Chinese cars were Algeria, Iran and Vietnam. In 2011, that list consisted of Russia, Brazil and Iran, while in 2012 it was made up of Russia, Algeria and Iran.
For the first half of this year, Algeria has consistently ranked as the top buyer of Chinese automobiles, purchasing $476 million worth of Chinese cars. It was followed by Chile and Russia, which have purchased $397 million and $362 million worth of automobiles, respectively.
