BANGKOK — Cars for sale in China China’s auto sales fell 5% year-on-year in the first quarter, although exports rose about 20% as automakers tram expand to global markets.
Total passenger car sales reached about 2 million units, of which about 1.6 million were sold in China, down 10% year-on-year. Total passenger car exports increased more than 20% to 399,000 units.
More than half of the cars sold are so-called “new energy vehicles” or electric and plug-in vehicles. hybrid.
Chinese automakers have stepped up vehicle exports as demand in the domestic market slows and USA and the European Union have raised tariffs on the grounds that government subsidies provided by Beijing give carmakers in China an unfair advantage.
Ministry of Commerce of China say Friday that it has submitted temporary tariff applied in early July to the World Trade Organization’s dispute settlement mechanism.
“The EU’s preliminary ruling lacks factual and legal basis, seriously violates WTO rules and undermines the overall situation of global cooperation in resolving disputes. climate change“, the ministry said in a statement on its website.
“We urge the EU to immediately correct its wrongdoings and jointly maintain the stability of China-EU economic and trade cooperation and the supply chain of the electric vehicle industry,” the report said.
In an effort to boost demand and combat slowing economic growth while promoting cleaner transport, China has expanded incentives to encourage drivers to trade older, petrol and diesel powered car and buy Tram.
While overall auto sales remain sluggish, electric vehicle sales rose nearly 30% in July from a year earlier to about 991,000 vehicles. Of that total, 887,000 were sold in China and 103,000 were exported.
Sales of foreign automakers have stagnated or declined this year, attesting to fierce price competition in a saturated market.
Share of car sale Sales of Chinese automakers have been growing rapidly and accounted for two-thirds of total car sales in July, when their sales increased by 10 percent, the report said.
The industry association said most vehicles sold in China from January to July were priced between 100,000 and 150,000 yuan (about $14,000 to $20,500). The majority of electric vehicles sold were priced between 150,000 and 200,000 yuan ($20,500 to $28,000).
China’s Chery Automobile, SAIC Motor and Geely Auto Group still exports more vehicles, mostly conventionally powered models, than electric car makers such as BYD And Tesla. But the latter is rapidly gaining market share. BYD exported 31,000 electric and hybrid vehicles in July, while Tesla’s The report said total exports reached 28,000.
In the first seven months of the year, BYD exported 2.38 million electric vehicles, compared with Tesla’s 1.76 million, the company said.
The bulk of China’s auto exports this year have gone to Russia, the report said, citing customs data. Russia imported 478,000 Chinese-made vehicles in the first half of the year, most of them with conventional internal combustion engines. Mexico imported the second most, with 226,000 vehicles, followed by Brazil, with 171,000.
The data source in this article has been edited to China Association of Automobile Manufacturers.
