January 30, 2013 09:59
China has hit the 1 million mark in annual car exports for the first time. The China Association of Automobile Manufacturers said on Tuesday outbound shipments rose 30 percent to 1.06 million units in 2012, while domestic car sales increased 4 percent.
Exports of passenger cars jumped 39 percent to 661,000 units, while those of buses and trucks climbed 17 percent to 395,000 units.
Chery Automobile was the top exporter with outbound shipments totaling 184,800 units, up 16 percent from a year earlier. Geely came second with 100,800 units, followed by Great Wall (96,500 units).
Algeria was the biggest buyer, followed by Russia, Iraq, Iran and Chile.
China's car exports are growing at the fastest rate in the world. The country has achieved 1-million-unit milestone just 11 years after it began exporting cars.
Korea achieved the feat in 1995, 19 years after Hyundai Motor first sold five Ponys to Latin American countries.
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