China has exported more than one million vehicles in June for the first time ever, as manufacturers looked beyond a slowing domestic market to drive sales overseas.
The export surge is being led by companies such as BYD and Geely, whose affordable electric and petrol-powered vehicles are making inroads into markets around the world.
Chinese carmakers are flooding global markets with record exports, a trend <a href="https://absafricatv.com/amazon-will-launch-satellite-internet-in-south-africa-beating-musk/" title="Amazon will launch satellite internet in South Africa, beating Musk”>South Africa‘s automotive industry has watched closely.
Consumers are seeing a growing number of Chinese brands on local roads and for South Africa, the implications are twofold.
Competitive pricing has put pressure on traditional manufacturers.
And for SA’s automotive industry, one of the country’s biggest exporters and employers rising competition from Chinese producers could intensify the battle for global market share, particularly in Europe, where South African-built vehicles are sold.
Industry has warned that global demand for cars is not growing fast enough to absorb the rapid increase in Chinese exports — raising the prospect of tougher competition, price cuts and growing trade tensions.
As South Africa positions itself for the transition to electric vehicles, the rise of Chinese manufacturers is likely to shape everything from consumer choice to future investment in the local auto sector.
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