Chinese auto exports up 53% in August

In August, exports of cars from China reached 2.1 million, an increase of 53% compared to last year. This was reported by Bloomberg, citing data from Chinese customs.

Exports of Chinese electric vehicles in this period increased by 33% to 284.6 thousand. Most electric vehicles were exported to Asia (108.8 thousand, an increase of 2.5%), and the most significant growth was in the case of Europe – exports there grew by a third, reaching 94.9 thousand. At the same time, the EU has duties on them in the amount of up to 35.3% (in excess of the standard 10%).

In August, The Wall Street Journal wrote that due to the growth of exports of Chinese cars in the world there are not enough specialized ships to transport them. Experts note that a sharp increase in Chinese auto exports contributes, among other things, to a decrease in demand in the PRC itself. Many analysts also warn that the Chinese economy is facing a crisis of overproduction, including in the automotive industry.

Jana Christmas