During the first 10 months of this year, China's auto sales, including cars, buses and trucks, rose by 64% from the previous year to 413,500. According to a report from the Commerce Ministry, sales from exported vehicles jumped 117% year-on-year to $4.8 billion.Despite increased car sales overseas, China's revenues are falling, hurt by declining car prices. The report showed that exports of passenger car more than tripled, but the weak dollar made their value to rise only 174% to $948 million.
Among other things, "unhealthy competition" is blamed for this discrepancy between the export volume growth and sales. According to the official Xinhua News Agency, value of the foreign autos sold in China increased in the January-September period as passenger cars imports totaled only 99,500 units with a dollar value of $3.4 billion.
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