China's Auto Export Grew 52% In Q1

China exported 105,600 vehicles in the first quarter of 2010, growing 52% from 69,700 a year earlier, according to the China Association of Automobile Manufacturers (CAAM).
 
Of all the products, 66,100 units were exported in the first two months and the remainder 39,500 ones exported in March alone. The top five exporters were chery, Chongqing Chang'an Automobile Company Ltd. (SZSE: 000625), Great Wall Motor Co., Ltd. (SEHK: 2333), Dongfeng Motor Group Co. Ltd. (SEHK: 0489), and Beijing Automobile Works Co., Ltd., with their combined export accounting for 56% of the total.
 
In the January-March period, Chery exported 16,600 cars, growing 193% from a year ago; Chang'an Automobile, 13,200, 64%; Great Wall Motor, 12,200, 83%; Dongfeng Motor, 9,300, 246%; and Beijing Automobile, 7,300, 40%.
 
There are signs that China's auto export is perking up but still standing far away from the peak in 2008. China is expected to see a slow growth in auto export this year, as demand from major importers like East Europe, Africa, West Asia, and Southeast Asia will recover at a slow pace after the global financial crisis, predicted Cui Dongshu, deputy secretary-general for the National Passenger Car Information Exchange Association.