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.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Exclusive: Credit Suisse puts up China brokerage venture for sale -sourcesCredit Suisse and a joint venture partner are seeking buyers for their China securities brokerage business due to the Swiss bank's takeover by rival UBS , said two people with direct knowledge of the matter.
Leer más »
China envoy in South Korea warns of 'wrong bets' over Sino-U.S. rivalrySouth Korea might be making 'wrong bets' in the Sino-U.S. rivalry, the Chinese ambassador in Seoul said, urging Seoul to stop 'decoupling' from China and restore economic and diplomatic ties.
Leer más »
China can't rely on Southeast Asian exports to offset a U.S. slowdownChina's exports to the U.S. and Southeast Asian countries fell sharply in May.
Leer más »
Biden family’s China business schemes endanger national securityOn Monday, National Security Council spokesman John Kirby claimed that the Biden family’s overseas business schemes were not a threat to national security. If only that were true.
Leer más »
China's factory deflation steepens as demand wanesChina's factory gate prices fell at the fastest pace in seven years in May and quicker than forecasts, as faltering demand weighed on a slowing manufacturing sector and cast a cloud over the fragile economic recovery.
Leer más »
Exclusive: Credit Suisse puts up China brokerage venture for saleCredit Suisse and a joint venture partner are seeking buyers for their China securities brokerage business due to the Swiss bank's takeover by rival UBS , said two people with direct knowledge of the matter.
Leer más »