BEIJING, Nov 9 (Reuters) – China’s car exports grew solidly in October, with persistent weakness in domestic sales piling pressure on automakers to push deeper into overseas markets and intensifying the prospect of fiercer competition abroad.
• Passenger vehicle shipments overseas jumped 68.2% to 932,000 last month from a year earlier, compared to September’s rise of 73.2% to 923,000, data from the China Passenger Car Association (CPCA) showed on Monday
• Sales at home dropped 27.3% year-on-year to 1.65 million cars, marginally narrowing from a 28.1% fall in September, for a 12th straight month of declines
• The Middle East is expected to be a key driver of export growth next year, although the outlook remains uncertain and overall export growth is likely to slow, said Cui Dongshu, secretary-general of the CPCA
• Chinese automakers should accelerate overseas localisation, keeping core technologies at home while expanding manufacturing abroad and promoting Chinese standards globally, according to Cui
• BYD’s global sales growth slowed in October, and its third-quarter profit growth missed estimates as fierce competition at home spilled over into overseas markets
• The biggest Chinese EV maker has been ramping up efforts to move upscale with a grand global debut of its Yangwang luxury sedan in Dubai on Friday
• Leapmotor, Xpeng and Xiaomi all notched their strongest overall monthly sales on record last month, while deliveries at electric vehicle brands under Huawei’s Harmony Intelligent Mobility Alliance, Li Auto and Nio declined, highlighting an increasingly polarized market
• After a deeper-than-expected slump this year, China’s domestic car market is expected to eke out modest growth in 2027
(Reporting by Qiaoyi Li, Zhang Yan and Ju-min Park; Editing by Clarence Fernandez)
