Mainland China’s car manufacturers saw their exports more than double as their US and European rivals were hit by the global chip shortage, reported the South China Morning Post.
Within the first 5 months of the year, Chinese carmakers exported 760,000 units, up 103% from the previous year. Secretary general of the China Passenger Car Association (CPCA), Cui Dongshu, attributed the strong performance of mainland manufacturers to a successful recovery in production from the pandemic.
Global consulting firm AlixPartners predicted production worldwide to fall by 3.9 million units this year due to the chip shortage. In January, the firm had predicted a drop of 2.2 million cars.