China car exports outpace domestic demand

BEIJING: China's car exports stayed in high gear, albeit at a slower pace, in August as automakers led by BYD (002594.SZ), opens new tab shipped a record number of vehicles overseas, in sharp contrast to a sluggish domestic market, where sales fell for the 11th month in a row.
Passenger vehicle exports jumped 77.5% from a year earlier to 894,000 units in August, easing from an increase of 88.2% a month earlier, data from the China Passenger Car Association showed on Tuesday.
A total of 1.55 million passenger cars were sold in China in August 2026, down around 24% year-on-year.
Sales at home fell 23.7% to 1.55 million vehicles, worsening from a ⁠decline of 21.1% in July.
Electric vehicle and plug-in hybrid sales, accounting for 64.7% of total domestic sales, ​shrank 10.1% on year in August, widening a 3.9% drop a month earlier. Meanwhile, export growth in the segment ​accelerated to 154.7% from 147.8% in July.
China's vehicle exports are forecast to reach 12 million units this year, according to Cui Dongshu, secretary-general of the ‌China Passenger ⁠Car Association (CPCA). Annual exports are expected to climb further to between 18 million and 20 million units by 2030, he said.
The export boom has raised regulatory concerns that the cut-throat competition battering carmakers, suppliers and dealers domestically could spread to overseas markets.
Last week, Chinese regulators issued new guidelines for automakers' overseas operations, warning against frequent ⁠or steep ​price cuts and other non-compliant practices that could harm consumers or ​tarnish brand reputations. -Reuters