A Guoyuan Securities third-quarter review of the auto sector, published on November 5, highlights that China's passenger-car exports reached 7.167 million units in the first three quarters, up 70.6% year on year. Total vehicle wholesale came in at 23.271 million units, down 4.5%, of which exports were 8.205 million units, up 65.8%, lifting the export-to-wholesale ratio to 35.3%.
NEV exports grew 127.9% and accounted for 48.8% of total exports, becoming the main driver of export growth. In the commercial-vehicle segment, wholesale rose 6.2% to 3.311 million units, with exports up 38.8% and NEV commercial-vehicle wholesale up 41.7%. Overseas NEV passenger-car share in August climbed to 29.1% as Chinese brands expanded coverage through new products, channels and local marketing.
Source: Tencent News / Guoyuan Securities
