According to Ningbo Customs statistics, from January to August 2010, Ningbo Port exported 1.47 billion U.S. dollars worth of auto parts, an increase of 47.8% over the same period of 2009, of which auto parts exported 200 million U.S. dollars in August, an increase of 43.9% year-on-year; mainly exported to European and American markets. The United States exported 390 million U.S. dollars, an increase of 49.2 percent, and exported 300 million U.S. dollars to the European Union, an increase of 39.9%.
Since September 2009, China has effectively mitigated the crisis in the domestic auto industry by adopting a number of favorable measures such as increasing financial support and supporting Ningbo, which has many parts and components manufacturers; on the other hand, global automobile consumption has gradually recovered. Many multinational companies have purchased cheap automobile parts from China to reduce production costs, and China's auto parts exports have ushered in new opportunities.
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