Will Europe be a Gold Mine for Chinese Exports?

CarPortChina’s car exports to other countries rose by more than 40% in 2012, which has been an excellent stimulus for Chinese carmakers in the slowing domestic market. A number of local automakers are relying heavily on exports. Lifan, for example, exported 67,000 passenger vehicles in 2012, which accounted for 43% of its total sales.

Chinese carmakers mainly focus on markets in South America, the Middle East, Russia and Eastern Europe. Some domestic automakers have tried to tap into mature markets. The brand MG, which was originally a British brand and is now owned by China’s SAIC, however, managed to sell only 782 cars in the UK in 2012.

Nevertheless, many Chinese brands have announced ambitious strategies for overseas development to further explore mature markets, especially countries in Western Europe. Continue reading ›