China's car exports have reached a record high in April, despite a decline in domestic sales. New energy vehicles (NEVs) accounted for 43.5% of total car sales in China, aiming for 45% by 2027. Chinese brands are offering affordable electric vehicles, leading to a surge in sales in Brazil and threatening the market dominance of Western automakers. Chinese automakers like BYD and Great Wall Motors are gaining market share in Brazil. Chinese EV sales are growing in South America and Mexico, with BYD planning to debut its first truck in Mexico.
"#BYD, the EV leader #China, plans to debut its Shark plug-in hybrid truck Tues at an event in Mexico City...BYD has said previously it doesn’t have plans to sell in the US—the biggest single market for pickups—at the moment" https://t.co/KQWXpyXg23
meanwhile, in the real world. China EV and plug-in hybrid sales in April 2024 were up 33% from April 2023 https://t.co/qdMKuOHLa6
China drives EV boom this year amid strong demand for hybrid vehicles - CNBC https://t.co/54uldMxGrv
China drives EV boom this year amid strong demand for hybrid vehicles https://t.co/3i3Dup5SKq
Chinese automakers like @BYDCompany and Great Wall Motors are steadily gaining ground in #Brazil, having secured 7% of the market share in April. #ElectricVehicle https://t.co/ylQWgXD0w4
Sales of Chinese autos in the first four months of 2024 swelled eightfold in Brazil due to growing demand for inexpensive EVs and hybrids. China's surge in sales is threatening the market dominance of Western automakers. https://t.co/V1A7jnHnbK
EV alert: BYD, the leader in electric vehicles in China, plans to debut its first truck in Mexico, making a splash on the doorstep of the world's largest pickup market. Chinese brands account for about 87% of EV sales in South America and 20% in Mexico. https://t.co/KR9bJAt499
EV alert: BYD, the leader in electric vehicles in China, plans to debut its first truck in Mexico, knocking on America's doorstep. Chinese brands account for about 87% of EV sales in South America and 20% in Mexico. https://t.co/KR9bJAtBYH
EU carmakers confront China's growing EV dominance https://t.co/KpBQwqXPhW
Brazil's demand for inexpensive EVs and plug-in hybrids has seen sales of Chinese autos swell eightfold in the country this year, cutting into Western automakers' hold over the market. https://t.co/OZAGl89APZ
Outside China, EVs are often pricey, aimed at a higher-income niche market. But Chinese brands are offering affordable options just as the U.S., European and many other gov’ts are encouraging a shift away from gas-powered vehicles to fight climate change. https://t.co/wz1IXzkZFb
“NEVs (EVs + Hybrids) accounted for 43.5% of total car sales in China, a record full-month high after hitting a milestone of more than half in the first half of April. China has set a target of 45% by 2027” — Reuters
Chinese car exports hitting records...even as domestic sales falter $byddf $nio https://t.co/acUueP46EO
China's Car Exports Hit Record High in April, As Domestic Sales Fall - @ChinaBeigeBook