BYD, Geely drive surge in China's car exports
China’s exports of passenger cars accelerated in March as automakers expanded their push into overseas markets, according to an industry association.
Passenger car exports jumped 82.4% year-on-year last month to around 748,000 vehicles, according to the China Association of Automobile Manufacturers, up from 586,000 vehicles exported in February, News.Az reports, citing foreign media.
Exports of new energy passenger vehicles — including battery electric vehicles and plug-in hybrids — surged more than 140% in March compared with a year earlier to 363,000 units. This also marks a 31% increase from about 276,000 units exported in February.
Major Chinese automakers, including BYD and Geely Auto, have been expanding overseas production and boosting international sales.
Analysts say the global energy shock and higher fuel prices linked to the Iran conflict could further increase demand for electric vehicles.
In New Zealand, data shows electric vehicle sales have surged in just a month, with electrified cars now making up nearly half of all new vehicle sales.
Chinese car brands have also made steady inroads in recent months across Europe, Latin America, and Southeast Asia.
“The impact of the Iran conflict hasn’t fully shown up in March data yet, but it can act as a trigger,” said Chris Liu, a Shanghai-based senior analyst at advisory group Omdia.
News.Az
By Nijat Babayev
