From last year’s epidemic to now, how about the export situation for China’s Automobile, including 32 seater bus for sale in the First Quarter of 2021?
1. Firstly, export situation and characteristics of vehicles under
CBU (including 32 seater bus for sale)
A. Vehicles under CBU hit a new monthly export high in March.
Per our customs statistics, our automobile enterprises exported 149,153 vehicles, including 32 seater bus for sale. It is an increase of 94.3% year-on-year in March 2021. The export value was 2.12 billion US dollars, an increase of 127.9% year-on-year. This month’s export data continued to refresh the single-month historical record. Under the background that exports shrank in the same period last year, the epidemic situation was effectively controlled at the beginning of this year. China’s export of automobile products was increasing substantially from January to March. Among which 430,000 vehicles (including 32 seater bus for sale), up 88.1% year-on-year. Export value was US$ 6.30 billion, up 113.3% year-on-year. China’s automobile exports continue to strengthen, and the current chip shortage is beneficial to China’s automobile exports.
B. Passenger vehicles, such as travel buses and cars are the main export models.
The top three vehicle models exported were cars, travel buses, including 32 seater bus for sale and trucks in March 2021 and the export of these three models accounted for 77.2% in total. The export of travel passenger vehicles increased the most year-on-year, 212.5%. From January to March, the traveling minibus ranked first among the whole vehicle models exported by China, with a year-on-year increase of 187.3%.
C. Situation in oversea main markets
a. Currently, Chile, Saudi Arabia
Asia was the largest export area for our vehicles under CBU, with the export value of US$ 740 million, up 87.2% year-on-year. Such as Chile, Saudi Arabia and Russia were the top three export destinations, with export volume accounting for 9.5%, 7.3%, and 6.2% respectively in March, 2021. The markets of America, Mongolia, and Germany increased greatly. From January to March, exports to Mongolia, Norway, Russia
b．Latin America and Africa are the largest export areas for our trucks and buses respectively
Latin America was the largest export area for our trucks, exporting 8,086 vehicles in March 2021. It is an increase of 124.4% year-on-year. Africa is the largest export destination for our buses with 987 vehicles exported, down 24.3% year-on-year.
2. Secondly, China’s automobile exports are expected to increase by more than 10% in 2021.
According to the forecast of the International Monetary Fund (IMF) on April 6, the global economic growth rate will reach 6% in 2021. US GDP growth rate is expected to be 6.4% and 4.4% in the Eurozone. The economic growth rate of emerging markets and developing economies is 6.7%, China’s GDP is expected to grow by 8.4%.
Due to the recovery of overseas demand at present, the export base is low in 2020. And the impact of the second epidemic on the automobile supply chain is uncertain but generally limited. Per estimation, automobile exports including 32 seater buses for sale will keep steady progress in 2021. It is optimistically estimated that China’s automobile exports will achieve a recovery growth of about 12% in 2021.
Although the epidemic is still affected, we should have confidence in automobile export, including 32 seater bus for sale.