China's monthly exports of passenger cars rose to its record high last month, indicating growing demand for Chinese cars from overseas, an industry report showed Tuesday.
According to the report by the China Association of Auto Manufacturers (CAAM), the number of cars exported in May reached 72,100 units, up 53 percent from the same month a year earlier. It was a 6.8 percent rise from April.
Chery Automobile Co., a state-owned automobile manufacturer based in Anhui Province, exported the highest number of cars with 14,100 units, which was a 75 percent increase from May 2010.
Last year, China exported 282,900 units of passenger cars and 261,900 units of commercial vehicles.
The total value of all exported passenger cars was US$1.66 billion, with an average value of each passenger car being $6,535. For the commercial automobiles, the total value was $4.58 billion and the average value of each vehicle was $17,800.
Major export destinations of Chinese automobiles include Algeria, Syria, Brazil, Chile, Russia, Iraq, Iran, Uruguay, Peru, Vietnam and Columbia.