China's car exports jump nearly 85% in April
AP News • • business
Key Points:
- China’s passenger car exports surged nearly 85% in April compared to last year, reaching around 796,000 vehicles, driven by strong overseas demand amid falling domestic sales.
- Exports of new energy vehicles (NEVs), including electric and plug-in hybrids, jumped over 120% year-on-year to about 420,000 units, highlighting China's growing role in the global EV market.
- Domestic passenger car sales in China declined 25.5% year-on-year in April, marking the sixth consecutive month of decline due to reduced government subsidies and economic uncertainty.
- Chinese automakers like BYD and Geely are expanding production abroad and gaining market share internationally, benefiting from rising global fuel prices and increased EV adoption.
- Trade tensions remain a challenge, with U.S. tariffs limiting Chinese EV access to the American market, while Beijing continues negotiations with the EU, Canada, and the U.S. to improve export opportunities.