{"id":75532,"date":"2024-08-11T03:03:09","date_gmt":"2024-08-11T07:03:09","guid":{"rendered":"http:\/\/autosector.com\/?p=75532"},"modified":"2024-08-11T03:03:09","modified_gmt":"2024-08-11T07:03:09","slug":"china-car-sales-drop-local-increase-overseas","status":"publish","type":"post","link":"http:\/\/autosector.com\/?p=75532","title":{"rendered":"China’s domestic auto sales fall in July, its exports jump about 20% – Autoblog"},"content":{"rendered":"

BANGKOK \u2014 Auto sales in China<\/a> faltered in July, falling 5% from a year earlier, the China Association of Automobile Manufacturers said Friday, although exports jumped about 20% as makers of electric vehicles<\/a> expanded into global markets.<\/p>\n

Sales of passenger cars totaled about 2 million units, with about 1.6 million sold inside China, a year-on-year decline of 10%. Total exports of passenger vehicles jumped more than 20% to 399,000 units.<\/p>\n

More than half of all vehicles sold were so-called \u201cnew energy vehicles,\u201d or electrics and plug-in hybrids<\/a>.<\/p>\n

Chinese automakers have ramped up exports of vehicles as demand has lagged in their home market and the U.S.<\/a> and European Union have raised tariffs on the grounds that government subsidies offered by Beijing give automakers in China an unfair advantage.<\/p>\n

China’s Commerce Ministry said Friday<\/a> that it had submitted the provisional tariffs<\/a> imposed in early July to the World Trade Organization’s dispute settlement mechanism.<\/p>\n

\u201cThe EU\u2019s preliminary ruling lacks a factual and legal basis, seriously violates WTO rules, and undermines the overall situation of global cooperation in addressing climate change<\/a>,\u201d the ministry said in a statement on its website.<\/p>\n

\u201cWe urge the EU to immediately correct its wrong practices and jointly maintain the stability of China-EU economic and trade cooperation and the electric vehicle industry chain supply chain,\u201d it said.<\/p>\n

To try to boost demand and counter slowing economic growth while also promoting cleaner transport, China has expanded incentives to encourage drivers to trade in<\/a> their older, gas and diesel-fueled cars and buy<\/a> EVs.<\/p>\n

While overall car sales have remained lackluster, sales of EVs rose nearly 30% in July from the year before to about 991,000. Of that total, 887,000 were sold in China and 103,000 were exported.<\/p>\n

Sales of foreign automakers have stalled or fallen this year, attesting to intense price competition<\/a> in an oversaturated market.<\/p>\n

The share of auto sales<\/a> held by Chinese automakers has been growing quickly and stood at two-thirds of all vehicle sales in July, as sales of their vehicles rose 10%, the report said.<\/p>\n

Most vehicles sold in China in January-July were priced between 100,000 yuan to 150,000 yuan (about $14,000-$20,500), the industry association said. The largest share of EVs sold were priced between 150,000 yuan to 200,000 yuan ($20,500-$28,000).<\/p>\n

China\u2019s Chery Automobile, SAIC Motor and Geely<\/a> Auto Group still export more vehicles, most of them conventional fuel engine models, than EV makers like BYD<\/a> and Tesla.<\/a> But the latter are quickly gaining in the market. BYD exported 31,000 EVs and hybrids in July, while Tesla’s<\/a> exports totaled 28,000, the report said.<\/p>\n

In the first seven months of the year, BYD<\/a> exported 2.38 million EVs, to Tesla’s 1.76 million, it said.<\/p>\n

The lion’s share of China’s auto exports this year went to Russia, the report said, citing customs figures. Russia imported 478,000 Chinese-made vehicles in the first half of the year, nearly all of them with conventional internal combustion engines. Mexico imported the second most, at 226,000, followed by Brazil, with 171,000.<\/p>\n

The source of the data in this story has been corrected to the China Association of Automobile Manufacturers.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

BANGKOK \u2014 Auto sales in China faltered in July, falling 5% from a year earlier, the China Association of Automobile Manufacturers said Friday, although exports jumped about 20% as makers of electric vehicles expanded into global markets. Sales of passenger cars totaled about 2 million units, with about 1.6 million sold inside China, a year-on-year […]<\/p>\n","protected":false},"author":1,"featured_media":75533,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[2],"tags":[],"class_list":["post-75532","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry"],"_links":{"self":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/75532","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=75532"}],"version-history":[{"count":0,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/75532\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/media\/75533"}],"wp:attachment":[{"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=75532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=75532"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=75532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}