Chinese auto exports surge, partly offsetting a sales slump at home

submitted by schizoidman…

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I'm pretty confident that that's the exact reason many Chinese car companies suddenly got very busy with exports.


This is the best summary I could come up with:

BEIJING (AP) — Chinese auto sales slumped in June as the domestic economy remained sluggish, but buoyant exports offset the decline at home, an industry association said Wednesday.

The surge in exports comes at a time of growing concern in Europe and the United States that inexpensive China-made cars could overwhelm established automakers in the West.

Russia is by far the largest and a still rapidly growing export market, where Chinese makers have filled a void left by the departure of other automakers after the Russian invasion of Ukraine.

Other sizeable markets include Brazil and Mexico in Latin America, the United Arab Emirates and Saudi Arabia in the Mideast and Belgium and the U.K. in Europe.

The European Union imposed provisional duties on Chinese electric vehicles last week, alleging that government subsidies give automakers in China an unfair advantage.

BYD, the country’s largest EV maker, opened a plant in Thailand last week and plans to build factories in Brazil, Hungary and Turkey.

The original article contains 344 words, the summary contains 162 words. Saved 53%. I'm a bot and I'm open source!