China’s vehicle exports continued to decline in July, falling 5.4 percent from June to 79,900, a year-on-year drop of 11.6 percent, statistics from the China Association of Automobile Manufacturers show.
It was the third month the nation’s automobile exports were lower measured against last year’s performance. In the first seven months of this year, China exported 567,500 vehicles, a fall of 2.2 percent compared with the 0.6 percent decline in the first half of this year.
Passenger vehicle exports dipped 0.2 percent in the period to 344,700 units, while commercial vehicle exports dropped 5 percent to 222,800 units.
“The weak overseas market for made-in-China vehicles was affected by the appreciation of the yuan,” said Dong Yang, deputy chief of the association.
To avoid currency rate fluctuations, Chinese auto makers are trying to build assembly plants in their big overseas markets, especially in South America and Africa.