China’s auto exports jump 51% in first three quarters

CHINA’S automobile exports recorded robust growth in the first three quarters this year, boosted by sales of homegrown brands and American EV giant Tesla.

In the first nine months, China shipped 2.26 million vehicles, up 51.6 per cent from a year earlier and surpassing the 2021 total, according to the General Admission of Customs.

Exports of new-energy vehicles grew 93 per cent to 656,000 units during the first nine months, data showed.

The top five exporters were SAIC Motor, Chery Automobile, Chang’an Automobile, Dongfeng Motor and Tesla, data from China Association of Automobile Manufacturers showed.

China’s auto exports topped 2 million units for the first time in 2021 with sales of 2.12 million, nearly double from the previous year.

The surge growth of Chinese exports, led by demand from the European market, partly reflected inadequate supplies in the overseas market affected by a semiconductor shortage, an energy crisis and geopolitical tensions, analysts said. CAIXIN GLOBAL