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Chongqing's Automobile Export Sees Increase in Price and Volume in First 5 Months

By RUI HUTAN, KAILONGICHONGQING|Jun 29,2020

According to Chongqing Municipal Commission of Commerce, Chongqing’s automobile export saw an increase both in price and volume, which has contributed to stabilizing local foreign trade fundamentals while helping the local automobile industry to stabilize production and promote growth.

Chang’an automobile

Automobile exports are expected to exceed 100,000 units this year

According to customs statistics, in the first five months of this year, Chongqing exported 40,000 vehicles, up by 24.2% compared with last year, and the export value stood at RMB 2.53 billion, up by 48.1% year on year.

In the first five months, Chongqing’s automobile exports showed three characteristics in terms of rapid recovery.

Automobile exports picked up quickly and are expected to exceed 100,000 units this year. So far this year, Chongqing’s automobile exports have continued its growth trend in 2019. The impact of domestic epidemic prevention and control measures on the industrial and supply chains was basically eliminated in April, and the backlog of previous orders was released. In April and May, a total of 16,000 vehicles were exported, up 34.3% year-on-year.

With the gradual easing of the epidemic in overseas markets and the gradual recovery of overseas orders, most local automakers have the confidence to regain the market by investing in new products and innovating marketing models. The annual automobile exports are expected to exceed 100,000 units.

new vehicles produced in Chongqing

The average price of an export vehicle reaches RMB 64,000

The export competitiveness of vehicles made in Chongqing has been enhanced, and export prices have risen steadily.

In recent years, Chongqing’s automobile export has gradually shifted from the traditional low-end products to quality products while turning to refined marketing. The international influence of its self-owned brands has climbed significantly, and export prices have risen steadily.

In the first five months of this year, the average export price of vehicles in Chongqing was RMB 64,000, up 20.7% from 2019.

Of these, the Changan Ford model was priced at RMB 70,000-85,000/unit; the average price of main export models of Changan Automobile was RMB 70,000/unit; the average price of Sokon’s independent export brands was RMB 50,000/unit, among which SUV (IX5) has entered the middle and high-end markets such as Germany and South Korea in batches.

Car export growth is the core driving force behind automobile export growth in Chongqing. From January to May this year, Chongqing exported 20,000 cars worth RMB 1.35 billion, an increase of 1.1 times and 1.6 times, respectively, compared with the same period last year.

Countries along the Belt and Road become a new engine for Chongqing’s automobile export growth.

Data from Chongqing Municipal Commission of Commerce shows that countries along the Belt and Road have become a new engine for Chongqing’s automobile export growth, especially the Middle East market.

In the first five months of this year, Chongqing exported 23,000 finished vehicles worth RMB 1.69 billion to countries along the route, up 48.6% and 84.6% year on year, respectively. Among them, 14,000 units worth RMB 1.2 billion were exported to the Middle East, an increase of 1.4 times and 1.2 times, respectively.

In terms of export markets, Chongqing’s top five export destinations were Saudi Arabia, Peru, Chile, the Philippines, and Vietnam. Chongqing exported 24,000 vehicles to the five countries in the first five months of this year, accounting for 61% of the total.

So far this year, local automaker SAIC Iveco Hongyan successfully seized the opportunity in the infrastructure market and exported 290 military vehicles to the Cambodian government and 50 tractors to customers in Vietnam. It is expected to continue exporting 50 heavy trucks by the end of this month or early next month.

Chongqing focuses on three aspects to stabilize the foreign automobile trade.

According to the head of Chongqing Municipal Commission of Commerce, next, Chongqing will focus on three aspects to stabilize the foreign automobile trade.

First, it will focus on addressing the specific difficulties and problems faced by the export of finished vehicles and put preferential policies in place.

Second, it will ramp up efforts to improve the quality of finished vehicles for export. Teaming up with industry departments, it will support and promote automobile enterprises to accelerate the implementation of product upgrading and industrial optimization and upgrading. Local government will back up engineering vehicle enterprises such as SAIC Iveco Hongyan and Qingling Motors to seize the opportunity in the infrastructure construction market in countries along the Belt and Road and expand the export share of select local vehicles and heavy trucks.

Third, it will build an international marketing platform and step up efforts to develop a global market. Specifically, first, it will establish online and physical exhibition platforms. It will support local enterprises to carry out product displays and transactions through online platforms and launch overseas promotion and sales with the help of online platform models such as “cloud exhibition.”

Second, it will strengthen the construction of overseas marketing service networks. It will set up the international marketing public service platform, set up the overseas public warehouse, provide enterprises with overseas comprehensive marketing services, including customs clearance, warehousing, distribution, and product display.

Third, it will launch brand promotion campaigns. Chongqing will shore up local enterprises in expanding the export of self-owned brand vehicles and expanding and strengthening the export of finished vehicles.

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