According to the statistics released by the China Association of Automobile Manufacturers recently, although it has been continuously affected by the appreciation of the renminbi, the export of automobiles in 2007 continued the rapid growth of the previous year, of which exports exceeded 600,000 units, reaching 621,700 units, an increase of 78.95% year-on-year. At the same time, the product structure also showed significant changes, the vicious and low-cost competition situation has improved, the automobile imports have also increased significantly, and the structure and grade of imported models have changed.
According to statistics, in 2007, exports of commercial vehicles were still mainly commercial vehicle exports, accounting for 54.4% of China’s total exports, followed by cars, which accounted for 30% of total exports. In 2007, the cumulative import volume exceeded 300,000 units to reach 314,200 units, a year-on-year increase of 37.80%. Compared with the same period of last year, the import volume increased by a net increase of 86,200 vehicles. In 2007, the total value of national auto imports and exports was US$66.878 billion, of which the total value of imports was US$25.798 billion, which was a year-on-year increase of 24.45%. The total value of exports was US$40.896 billion, an increase of 45.31% year-on-year.
Compared with the previous scattered automobile exports, after the rectification of the automobile exports in 2007 also appeared a new situation of increased concentration. As of November 2007, China’s auto exports have been exported to 190 countries and regions in the world. The top three exporters were Russia’s 1.2 billion U.S. dollars, Iran’s 490 million U.S. dollars and Kazakhstan’s 446 million U.S. dollars, and the amount of export to the top 10 countries. Together they accounted for 62% of the total vehicle export value, showing a high degree of regional concentration. From the perspective of export regions, Asia, Eastern Europe, and Africa are still the main directions for China’s auto exports, and exports to these three regions account for nearly 90% of total exports.
Although domestic auto exports have developed very rapidly, the impact on auto exports at the macroeconomic level has begun to increase. Kearney’s director Dai Jiahui stated at the “Automatic Subject Forum†at the end of January that there are three unfavorable situations at the same time: one is the impact of the appreciation of the renminbi on the export business; the second is the increase in the price of raw materials (metals and petroleum). The cost of the car has a great influence; the third is inflation.
Dai Jiahui said that the current situation facing auto exports can be changed through three major measures. The first is to reduce costs. On the one hand, it can reduce costs through the improvement of operational efficiency. The second is to deal with currency fluctuations by diversifying the origin. Including the establishment of production lines or assembly lines at major export destinations abroad. The third is to respond to the crisis through financial measures. This includes hedging in response to currency changes. In the procurement of raw materials, a long-term contract guarantee price is signed, a long-term contract is signed with the customer, or a value-added procurement model is made. Avoid currency risk through multiple measures.
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