BEIJING, Jan 1 China's auto exports hit a record high of 340,000 units in 2006, more than

Published: Monday, January 1, 2007, 17:28 [IST]
 

BEIJING, Jan 1 (Reuters) China's auto exports hit a record high of 340,000 units in 2006, more than double that of 2005, Xinhua news agency said on Monday, quoting a Ministry of Commerce official.

Sedan exports topped 90,000 units, triple those of the previous year, the official was quoted as saying.

Customs statistics show that China's vehicle exports surged 120 percent from 78,000 units in 2004 to 173,000 units in 2005, with export volume hitting $1.58 billion.

China is aiming to increase its vehicle and auto parts exports to $120 billion, or 10 percent of the world's total vehicle trading volume, in the next 10 years, Vice-Minister of Commerce Wei Jianguo said in November.

Over the past few years, China's exports of vehicles and parts have grown rapidly. In 2005, exports reached $10.9 billion, an increase of 34 percent on the previous year.

China is the world's second largest automotive market, attracting global brands such as Hyundai Motor Co. <005380.KS> and General Motors Corp. to one of the fastest growing markets in the world.

REUTERS DKS RK1235


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