China exported 994,000 vehicles overseas in the first quarter, and many of them compete in the same price range as the Koreans car auto cars
became the second-largest exporter and this year, in April, it became the largest,” Lee Hang-koo from the Korea Automotive Technology Institute said. “Although China will continue to grow its domestic market, ultimately, to solve the supply and demand issue, it has no choice but to expand into the export market as the local market is already saturated. That’s why they made this declaration and embarked on an export drive.
It’s not just vehicles from Chinese carmakers that have contributed to the greater export numbers. Foreign-owned firms like , Volvo, and Mercedes-Benz also build cars in China for global markets. In fact, Tesla exported 270,000 vehicles from China last year, ranking it as the third largest car exporter in the country.“Hyundai focused on emerging markets and experienced growth but recently the Chinese market fell through,” he said. “The U.S. market is doing well, however, we are already slightly falling behind in the European market.
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