China's vehicle exports have slumped due to weak demand in emerging markets, plunging nearly 30 percent year on year in the first two months to 80,000 vehicles.

 

In January and February, passenger vehicle exports dropped 23 percent to 51,000 vehicles, while commercial truck exports plunged 39 percent to 29,000 vehicles, according to the China Association of Automobile Manufacturers.

 

Two major exporters, Zhejiang Geely Holding Group Co. and Great Wall Motor Co., reported disappointing exports last week.

 

In the first two months, Geely's exports plummeted 41 percent year on year to 4,070 vehicles, while Great Wall's exports tumbled 34 percent to 1,900.

 

Chinese carmakers export most of their vehicles to emerging markets such as Russia, the Middle East and North Africa. No Chinese brands have successfully penetrated mature markets such as North America and Western Europe.