BEIJING: China's car exports surged to a record high in April, data showed on Friday (May 10), as domestic sales slipped 5.8 per cent from a year earlier amid intensifying price competition and consumers' caution about spending on big items during a shaky economic recovery.
Cars to be exported sit at a terminal in the port of Yantai, Shandong province, China, on Jan 10, 2024. BEIJING: China's car exports surged to a record high in April, data showed on Friday , as domestic sales slipped 5.8 per cent from a year earlier amid intensifying price competition and consumers' caution about spending on big items during a shaky economic recovery.
He said local automakers would have to make a choice between going overseas and losing out, as competition in the domestic market intensifies. While the share of new energy vehicle sales scaled a new high, paving the way for the world's largest auto market to fast-track its green goal, EV sales are still far slower than those of plug-in hybrids .
The PHEV segment, which has grown faster since 2022, drives the success of domestic giant BYD, making up 57 per cent of the company's car sales in April.
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