China's passenger car exports up 28% in June

BEIJING - China's exports of passenger vehicles hit 378,000 units in June, marking a 28 percent increase year-on-year and staying flat compared to the previous month, the latest data showed.

With the South American market recovering, exports of Chinese-brand cars hit 325,000 units in June, up 31 percent year-on-year, while the exports of luxury vehicles and cars made by Chinese and foreign-invested joint ventures reached 54,000 units, up 12 percent year-on-year, according to data released on Monday by the China Passenger Car Association.

In the same month, exports of new energy vehicles (NEVs) from China stood at 80,000 units, up 12.3 percent year-on-year. In the first half of this year, NEV exports reached 586,000 units, up 21.2 percent year-on-year, the data showed.

Data from the association, covering all domestic passenger car manufacturers, also showed that in the first half of this year, retail sales of passenger cars surpassed 9.84 million units, up 3.3 percent year-on-year.

The association projects that passenger car consumption will continue to rise due to the increasing popularity of privately owned vehicles and the rapid growth of smart electric vehicles.

The enthusiasm among car owners for NEVs, coupled with government incentives encouraging consumers to replace outdated vehicles with new ones, will continue to accelerate demand for cars, according to the association.