US EditionChina Passenger Car Exports Jump 82% as Iran War Renews Interest in EVs
Chinese automakers sold more abroad as weak home demand and scaled-back government support pushed domestic passenger car sales down 19.2%, industry data showed.
- On Friday, the China Association of Automobile Manufacturers reported that passenger car exports jumped 82.4% last month to around 748,000 vehicles as Chinese automakers intensified their overseas expansion.
- Domestic passenger car sales fell 19.2% last month to nearly 1.7 million units, marking the fifth consecutive month of decline as fierce competition and property sector slump weighed on consumers.
- Exports of new energy passenger vehicles surged more than 140% last month to 363,000 units, up 31% from the about 276,000 units exported in February.
- A sharp rise in fuel prices due to the Iran war could accelerate EV adoption, said Chris Liu, a Shanghai-based senior analyst at advisory group Omdia, who noted that consumers previously lacked urgency.
- UBS auto analyst Paul Gong predicts overseas sales could grow by 20% or more this year, with foreign demand sufficient to offset domestic decline for the overall industry.
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19 Articles
China's exports of electric and hybrid cars rose 140 percent year-on-year in March to a record 349,000 units, according to data released today by the China Passenger Car Association (CPCA). Demand for electric cars has been boosted by the conflict in the Middle East, which has led to a sharp rise in fuel prices, Bloomberg reported.
Exports of Chinese electric cars increased by 100% in March over a year. Last month, 183,000 fully electric cars were exported. BYD is now the world's leading manufacturer in this niche. (Economy).
Electric cars made in China are becoming increasingly popular around the world: exports of electric cars from the People's Republic grew by 100 percent in March compared to the same period last year, the China Automobile Association CPCA reported, which is cited by n-tv.de.
They push the world automotive market, with innovations and prices often lower than competition.
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