Chinese automakers face falling domestic sales as exports surge in April
Updated
Updated · Reuters · May 11
Chinese automakers face falling domestic sales as exports surge in April
11 articles · Updated · Reuters · May 11
Home sales fell 21.6% year on year to 1.4 million vehicles, the seventh straight monthly decline, while EV and plug-in hybrid exports jumped 111.8%.
The CPCA said intense competition, high oil prices and weak demand for affordable cars hurt the market, with EV and plug-in hybrid sales down 6.8% and making up 60.6% of sales.
Manufacturers are shifting toward pricier SUVs and premium models, but weak entry-level demand remains a bottleneck; Morgan Stanley expects domestic and export sales to each fall 2% this year.
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