Lifan Auto: Export Down
19 May 2009
According to news from Chongqing Lifan Industry (Group) says that its total exports decrease by 40 percent year-on-year in the first quarter in this year although booming domestic sales offset most of the overseas losses. Lifan sold more in its home market during the same period, roughly enough to offset its losses abroad. China's passenger car sales rebounded by 10 percent to hit a monthly high of 1.1 million units.
Lifan hopes the country to expand the coverage of export insurance in a bid to help overseas buyers address financing difficulties. It is the most effective way to boost exports. According to Lifan predicts that exports in the second quarter of this year should be better than the first quarter but is unlikely to recover to the same level of the last year. Recovery signs may be seen in the second half of this year.
Source : english.chinabuses.com
Editor : Frederick
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