China passenger-car exports rose sharply in March

Summary

China’s passenger-car exports rose 82.4% in March as automakers expanded overseas sales amid weaker demand at home.

Why this matters

The figures show how Chinese automakers are relying more on foreign markets as domestic sales decline. They also point to how fuel-price pressures and policy shifts could affect global electric-vehicle demand.

China’s passenger-car exports accelerated in March as automakers expanded efforts to grow overseas markets, according to an industry association.

Passenger-car exports rose 82.4% from a year earlier to about 748,000 vehicles last month, the China Association of Automobile Manufacturers said Friday. That was up from 586,000 in February.

Exports of new energy passenger vehicles, including battery electric vehicles and plug-in hybrids, rose more than 140% in March from a year earlier to 363,000 units. That was also up 31% from about 276,000 in February.

Major Chinese automakers, including BYD and Geely Auto, have been ramping up efforts to boost sales abroad, including expanding production outside China. Chinese car brands have gained market share in recent months in Europe, Latin America, and Southeast Asia.

Domestic passenger-car sales fell 19.2% in March from a year earlier to nearly 1.7 million units, according to the association. It was the fifth straight month of year-over-year declines.

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