China's vehicle exports top 1m in 2012

China's vehicle exports have reached 1,056,100 units abroad in 2012, a 29.7% rise on 2011. The latest statistics from China Association of Automobile Manufacturers show that though the year-on-year growth slowed to 30% from 50% in 2011, the rate is still much higher than the 4.3% increase for the domestic market. Passenger cars accounted for 45% of the exports while trucks accounted for 27.9 %, said the association. Statistics from the General Administration of Customs show that in the first 11 months of last year, the revenues of China's total vehicle exports increased 8.6% year-on-year to $67.82 billion. During 2012, China's domestic automobile sales jumped 4.3% over the previous year to 19.31 million units.