China’s monthly auto exports topped 1 million units for the first time in June, reports Caixin. This comes as automakers stepped up overseas shipments amid intensifying pressure at home.
Exports jumped 75.1% from a year earlier to 1.04 million vehicles, according to data released Thursday by the China Association of Automobile Manufacturers. New-energy vehicles drove much of the increase, with shipments surging 160% to 523,000 units.
The milestone underscores Chinese automakers’ growing reliance on overseas markets to offset a bruising domestic price war and weakening demand.