News
Exports of secondhand vehicles (a total of passenger cars, cargo carriers, buses and electric vehicles) fell 8.4% year on year to 109,013 units in December 2018, posting the first year-on-year contraction in three months, according to a report released by the International Auto Trade Association (iATA). Exports to Singapore and Mongolia increased, but those to Sri Lanka, Pakistan and Myanmar all plunged.
The iATA report, compiled with trade statistics unveiled by the Ministry of Finance (MOF), added that in 2018, exports of secondhand vessels grew 2.2% from the previous year to reach 1,326,619 TEUs, the second highest volume after the record made in 2008. The leading destination was the United Arab Emirates (UAE), exports to which numbered 126,706 units, but in terms of growth they plunged 12.2% from the previous year. Ranked second were those to New Zealand, which totaled 116,352 units. New Zealand was followed by Russia, to which 95,074 vehicles were exported, up 37.7%.
