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Domestic passenger car sales climbed 11.2% year-on-year in last
month down from a 15% rise in August, the China Association of
Automobile Manufacturers said Tuesday.
Exports of “new energy vehicles,” including battery electric
vehicles and plug-in hybrids, jumped 100% to 222,000 units in
September, the industry organization said. That was slightly
lower than the 224,000 units exported in August.
China’s EV makers have been increasingly looking abroad to
markets such as Europe and Southeast Asia as overcapacity and
price wars back home have pressured their profit margins. They
invested more abroad than inside China last year, for the first
time since 2014, the U.S.-based consultancy Rhodium Group said
in a recent report.
BYD -– one of China’s largest EV makers -– said this month that
the United Kingdom has become its largest market outside China.
Its sales there rocketed 880% year-on-year in September.
Chinese automakers increasingly are expanding investments in the
Middle East and Africa after the European Union, U.S., Canada
and other countries imposed stiff tariffs on Chinese-made EVs.
In China, manufacturers have been cracking down on price wars
that have raged due to fierce competition.
BYD’s monthly domestic sales fell in September for the first
time since February 2024, down 5.5% from the same month a year
earlier, while some of its rivals still recorded strong growth
in sales.
September is a traditional peak period for auto sales in China,
with carmakers launching various new models in a month dubbed
“Golden September.”
Subsidies for trade-ins for new energy vehicles have helped lift
domestic demand and sentiment, though some local governments
have suspended such payments in recent months.
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