Car sales and exports from China - Uncertainties and geopolitical tensions put pressure
China's auto sales and exports are set to slow due to sluggish demand and external uncertainties, a major Chinese industry association said on Wednesday. Auto sales are expected to grow 1% this year, down from 9.4% last year, data from the China Association of Automobile Manufacturers (CAAM) showed.
Sales growth of electric vehicles and plug-in hybrids is expected to slow to 15.2% from 28.2%, while vehicle exports are likely to increase by 4.3% after a stronger-than-expected 21.1% growth in 2025, CAAM data showed.
Domestic demand remains insufficient, as residents' unstable income prospects and concerns about job insecurity weigh on purchasing, the association said.
Furthermore, it said the regulation on zero-mileage used cars, a tactic used by car manufacturers to sell new cars as second-hand vehicles at heavily discounted prices, will intensify inventory pressure in the country in the short term.
Geopolitical uncertainties and economic and trade tensions will put downward pressure on exports, the association said, adding that a push for production localization by Chinese automakers would also impact exports.
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