China’s passenger car exports are up 80% in June as EV demand grows, while sales drop at home
Automakers push overseas to offset domestic slowdown caused by economic pressures and competition, as foreign demand for EVs surges.
- On Wednesday, the China Passenger Car Association reported that domestic passenger vehicle sales fell 23.4% from a year earlier to 1.62 million units in June, marking the ninth consecutive month of decline.
- A prolonged slump in China's property market combined with reduced government subsidies for budget cars priced under $11,776 has dampened consumer spending, while fierce price wars continue to squeeze margins across the sector.
- Car exports jumped 82.1% to 882,000 vehicles last month, while new-energy vehicle shipments surged over 150% to 499,000 units as foreign markets absorb excess production.
- Wei Haigang, president of GAC International, said "going global has become a necessity" because companies failing to venture overseas face immense difficulties surviving China's competitive environment.
- Consultancy AlixPartners forecasts Chinese exports could rise to about 10 million vehicles this year, up from around 7 million in 2025, though industry sentiment is expected to turn a corner after July.
26 Articles
26 Articles
Associated Press News
China’s passenger car exports are up 80% in June as EV demand grows, while sales drop at home
China has reported its exports of passenger cars surged 80% in June from a year earlier, while domestic sales sank 26%, according to an industry group.
China’s Passenger Car Sales Slump as Automakers Race Overseas
China’s Passenger-Car Sales Slump as Automakers Race Overseas - Domestic retail sales fell 20% in the first half, while exports surged more than 70%, underscoring a widening divide between China’s weak home market and its global ambitions
The Economic Times
Times of IndiaChina car sales slump for ninth straight month, exports stay strong
China's car sales have declined for nine consecutive months, impacting domestic demand significantly. Automakers are now increasingly focusing on export markets to offset these local sales slumps. Consumers with higher purchasing power are upgrading to new premium vehicles with advanced features. This trend benefits emerging Chinese brands while traditional German marques face challenges.
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