The
economically dynamic Jiangsu Province in east China exported 4,478 motor vehicles
in the first eight months of this year, up 38.7 percent on last year. According
to customs sources in Nanjing, the provincial capital, the exported vehicles were
valued at 42.44 million U.S. dollars, up 90.2 percent. More
than half of the motor vehicles were sold to Asian countries and regions. In the
Jan.-Aug. period, exports to these areas accounted for 19.47 million U.S. dollars,
or 50.4 percent, of the province's total, the sources said. In
the eight months, Jiangsu also sold 9.13 million U.S. dollars worth of vehicles
to Latin America, up 440 percent, and 3.88 million U.S. dollars worth of vehicles
to Europe, up 75.5 percent. Most
of Jiangsu's vehicle exports were large and medium-sized buses and trucks. Their
manufacturers all have intellectual property rights and their own brands. King-Long
United Automotive Industy (Suzhou) Co. Ltd, Mudan Automobile Shares Company Limited,
Jiangsu YOUYI Automobile Co., Ltd, Zonda Group Automobile Industry Department,
Yangzhou Yaxing Motor Coach Co.,Ltd, Wuxi Anyuan Bus Company, etc. are all in
Jiangsu province.
But industry insiders have pointed out that the profit
margins are low as exporters continue to slash prices in order to compete with
each other.
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