China's exports of vehicles and auto parts rose in the first half of 2010, but not nearly so fast as its imports.
Result: China's automotive trade balance with the rest of the world jumped from roughly zero in 2009 to a deficit of nearly 26 billion yuan, or about $3.82 billion, in the first six months of 2010, reports China Car Times, citing data from the China Association of Automobile Manufacturers.
In the first half of the year, Chinese automakers shipped 250,100 cars, buses and trucks overseas, up 56 percent from a year earlier. But passenger-vehicle imports jumped 170 percent to 388,200 units. Many of those imports were pricey, high-end models.
Germany ($8.81 billion) and Japan ($8.51 billion) were the two largest exporters of vehicles and parts to China.
The United States ($4.40 billion) and Japan ($2.20 billion) were the biggest importers of China-built vehicles and parts.