China’s car exports roar in August while domestic sales extend declines
Passenger vehicle exports jumped 77.5% to 894,000 units in August, while home sales fell 23.7% as automakers expanded overseas.
- On Tuesday, China Passenger Car Association data showed vehicle exports reached 894,000 units in August, a 77.5% jump, while domestic sales fell 23.7% to 1.55 million vehicles for the 11th consecutive month.
- Weakness in China, the world's largest auto market, forced automakers to intensify overseas expansion; BYD and Geely Auto hit fresh export records last month to offset the domestic slump.
- Within the domestic market, electric vehicle and plug-in hybrid sales shrank 10.1% in August, accounting for 64.7% of total sales, while export growth in this segment accelerated to 154.7% from 147.8% in July.
- Last week, Chinese regulators issued guidelines for overseas operations, warning against steep price cuts and non-compliant practices; BYD, Chery, and Geely Holding pledged compliance to protect brand reputations.
- Cui Dongshu, secretary-general of the China Passenger Car Association, forecasts exports will reach 12 million units this year, with annual exports expected to climb to between 18 million and 20 million units by 2030.
14 Articles
14 Articles
China’s car exports stay strong in August while domestic sales decline worsens - Regional Media News
BEIJING, Sept 8 (Reuters) - China's car exports stayed in high gear, albeit at a slower pace, in August as automakers led by BYD shipped a record number of vehicles overseas, in sharp contrast to a sluggish domestic market, where sales fell for the 11th [...]
China’s car exports roar in August while domestic sales extend declines
BEIJING, Sept 8 (Reuters) - China's car exports stayed in high gear in August as automakers led by BYD shipped a record number of vehicles overseas, in sharp contrast to a sluggish domestic market, where sales fell for the 11th month in a row. P...
China's car sales have expanded their decline in August, becoming a stress test for foreign car manufacturers, who are trying to recover their business from the world's largest market, while exports have increased, Reuters reports, says Agerpres. The data published on Tuesday by the Chinese Automobile Manufacturers Association (CPCA) shows that sales [...]
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