Chinese Car Sales Are Booming Almost Everywhere – Just Not at Home
Exports rose 88% to 923,000 vehicles in July as Chinese brands expanded abroad and domestic demand fell for a 10th straight month.
- On Tuesday, the China Passenger Car Association reported domestic car sales fell 20% to 1.47 million vehicles in July, marking the 10th consecutive monthly decline, while exports surged 88% to 923,000 vehicles.
- Weak consumer demand and intense price competition have glutted China's market with excess capacity, forcing major automakers like BYD, Geely, and Chery to accelerate overseas expansion as an economic necessity.
- Bill Russo, CEO of Shanghai-based advisory firm Automobility, noted China's technological edge encompasses "electrification, batteries, software, intelligent features, supply-chain scale and very rapid product development." This positions Chinese firms to disrupt global markets.
- China has overtaken Japan as the world's largest vehicle exporter since 2023, pressuring established rivals like Toyota Motor and Volkswagen as Chinese brands now capture nearly a quarter of Europe's EV shipments.
- Counterpoint Research forecasts Chinese brands will capture 29% of Europe's EV market by 2030, though analyst Abhilash Gupta cautioned tariffs cannot reverse the trend while HSBC analyst Yuqian Ding expects domestic demand to stabilize in late August.
12 Articles
12 Articles
Chinese assemblers find abroad a way out to slow down domestic sales
JN in China: special series shows Canton, a city that has become a hub for the production of electric cars The Chinese automotive industry is in direct expansion abroad, conquering markets from Europe to Southeast Asia and pushing traditional assemblers like Toyota and Volkswagen. But the situation is different in the internal market. Car sales have been falling since the end of last year, amidst the low demand of consumers and years of intense …
Chinese car sales are booming almost everywhere – just not at home - Regional Media News
BEIJING, Aug 14 (Reuters) - China's car industry is on a tear overseas, storming markets from Europe to Southeast Asia and heaping pressure on long-established automakers like Toyota Motor and Volkswagen. But it is a different story at home, where car sales have been in steady decline since late last year, as weak consumer demand and years of intense price competition have left the world's biggest auto market glutted with excess capacity. While …
Chinese car sales are booming almost everywhere – just not at home
BEIJING, Aug 14 (Reuters) - China's car industry is on a tear overseas, storming markets from Europe to Southeast Asia and heaping pressure on long-established automakers like Toyota Motor and Volkswagen. But it is a different story at home, where car ...
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