Reuters: China's auto exports grow rapidly
Reuters (Japanese version), April 9 report: China's auto exports in March reached approximately 700,000 units, a year-on-year increase of 73.7%, surpassing the 54.1% growth seen in January and February. Auto exports exceeded expectations and have entered a phase of rapid growth.
Domestic sales in China fell by 15.2% in March to 1.67 million units, marking the sixth consecutive month of decline. Lower fuel prices have reduced demand for internal combustion engine vehicles, while electric vehicles (EVs) have also been affected by reduced government subsidies.
Sales of fuel-powered vehicles declined by 15.7%, with the drop widening from 13.4% in January and February. To mitigate the impact of soaring oil prices in the Middle East, China has imposed an upper limit on domestic fuel price increases, yet car sales remain weak.
Domestic sales of electric vehicles and plug-in hybrid electric vehicles (PHEVs) dropped by 14.4%. BYD’s domestic sales have declined for seven consecutive months, but its sales performance in Europe and other overseas markets has been exceptionally strong.
Original article: toutiao.com/article/1861999821148186/
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