* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Saturday, August 30, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    South Park Is In Trouble And Needs To Change Course, Fast – yahoo.com

    South Park Faces Major Challenges and Must Adapt Fast to Survive

    ‘Netflix House’ entertainment complexes are coming. Here’s when they open – Los Angeles Times

    Exciting News: Netflix’s House Entertainment Complexes Are Opening Soon!

    ‘Big Brother’s’ Rylie Jeffries Finally Speaks Out on Katherine Woodman Controversy – El Paso Inc.

    Big Brother’s Rylie Jeffries Finally Speaks Out on Katherine Woodman Controversy

    ‘SNL’ Parts Ways With Emil Wakim Amid Rumored Season 51 Cast Shakeup – yahoo.com

    SNL Shakes Up Season 51 Cast with Emil Wakim’s Surprising Exit

    Do you have a favorable or an unfavorable opinion of Taylor Swift? – YouGov

    Do You Love Taylor Swift or Not? Share Your Thoughts!

    Upload Season 4 Review – yahoo.com

    Upload Season 4 Review: A Thrilling New Chapter Unveiled

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    13 Top Technology Trends (2025) – Exploding Topics

    13 Game-Changing Technology Trends to Watch in 2025

    Japan’s legacy LCD and chip technology find new home in India – Nikkei Asia

    How Japan’s Breakthrough LCD and Chip Technologies Are Driving Innovation in India

    ITSWC 2025: Thursday sessions guide – Traffic Technology Today

    Your Ultimate Guide to Thursday Sessions at ITSWC 2025

    MC Machinery Technology Summit Showcases Manufacturing Innovations – Modern Machine Shop

    MC Machinery Technology Summit Unveils Cutting-Edge Manufacturing Innovations

    US-ROK Technology Cooperation Faces Rising Tensions – The National Interest

    Rising Tensions Put US-South Korea Technology Partnership to the Test

    The Role of AI and Technology in Shaping the Future of Interactive Entertainment – Technology Org

    How AI and Technology Are Transforming the Future of Interactive Entertainment

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    South Park Is In Trouble And Needs To Change Course, Fast – yahoo.com

    South Park Faces Major Challenges and Must Adapt Fast to Survive

    ‘Netflix House’ entertainment complexes are coming. Here’s when they open – Los Angeles Times

    Exciting News: Netflix’s House Entertainment Complexes Are Opening Soon!

    ‘Big Brother’s’ Rylie Jeffries Finally Speaks Out on Katherine Woodman Controversy – El Paso Inc.

    Big Brother’s Rylie Jeffries Finally Speaks Out on Katherine Woodman Controversy

    ‘SNL’ Parts Ways With Emil Wakim Amid Rumored Season 51 Cast Shakeup – yahoo.com

    SNL Shakes Up Season 51 Cast with Emil Wakim’s Surprising Exit

    Do you have a favorable or an unfavorable opinion of Taylor Swift? – YouGov

    Do You Love Taylor Swift or Not? Share Your Thoughts!

    Upload Season 4 Review – yahoo.com

    Upload Season 4 Review: A Thrilling New Chapter Unveiled

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    13 Top Technology Trends (2025) – Exploding Topics

    13 Game-Changing Technology Trends to Watch in 2025

    Japan’s legacy LCD and chip technology find new home in India – Nikkei Asia

    How Japan’s Breakthrough LCD and Chip Technologies Are Driving Innovation in India

    ITSWC 2025: Thursday sessions guide – Traffic Technology Today

    Your Ultimate Guide to Thursday Sessions at ITSWC 2025

    MC Machinery Technology Summit Showcases Manufacturing Innovations – Modern Machine Shop

    MC Machinery Technology Summit Unveils Cutting-Edge Manufacturing Innovations

    US-ROK Technology Cooperation Faces Rising Tensions – The National Interest

    Rising Tensions Put US-South Korea Technology Partnership to the Test

    The Role of AI and Technology in Shaping the Future of Interactive Entertainment – Technology Org

    How AI and Technology Are Transforming the Future of Interactive Entertainment

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home News

Chinese auto sales grew 9.8% in the first half, helped by low base

July 26, 2023
in News
Chinese auto sales grew 9.8% in the first half, helped by low base
Share on FacebookShare on Twitter

China’s vehicle sales grew 9.8% to 13.24 million in the first half of 2023, partly driven by a low base in the same period last year, an industry group announced on Tuesday. It left its 3% growth projection for the full year intact.

The growth was artificially high, especially in the second quarter due to the impact of the country’s zero-COVID lockdowns last year, and despite the price war launched by automakers earlier this year to gain market share.

“After experiencing the impact of the first quarter’s promotion drive and market price fluctuations, driven by the central and local government’s policies to promote consumption … the market demand has gradually recovered,” Xu Haidong, a spokesperson from the China Association of Automobile Manufacturers (CAAM) told a news conference.

However, no question-and-answer period followed, and the industry group did not elaborate on a deal among 16 automakers to call off the price war last week, which was retracted two days later.

In the deal, automakers including BYD and Tesla pledged to avoid “abnormal pricing,” but CAAM withdrew it on Saturday, saying it violated China’s antitrust law.

The first half’s sales data covered the country’s new energy vehicles, which include full electric and hybrid vehicles, as well as exports.

Sales of such electrified vehicles grew by 44.1% to 3.75 million units, accounting for 28% of the market despite the withdrawal of a subsidy program at the end of last year. Buyers can still enjoy a sales tax exemption, which had been due to expire at the end of the year — but in an announcement last month, the government unveiled a USD 72.3 billion package of tax breaks that will extend the exemption and other incentives until the end of 2025 to stimulate sales.

China’s market for new energy vehicles in the first half of 2023 was led by BYD, which sold 1.26 million units and accounted for 33.5% of market share. Tesla clocked in second with 477,000 electrified vehicles for a 12.7% market share.

BYD emerged as the country’s bestselling car brand in the first quarter of 2023, overtaking Volkswagen, the country’s long-term market leader. The Shenzhen-based automaker and other local brands outsold foreign car brands for the first time in April. Their market share at the end of June stood at 53%.

The growth was fueled by new energy vehicle brands, which were better than foreign brands in delivering what new and tech-savvy Chinese consumers want at a price they could afford, according to a July 5 report by the New York-headquartered consulting firm AlixPartners.

“Chinese automakers have now passed the tipping point of global relevance,” said Stephen Dyer, the firm’s representative in Shanghai.

Chinese brands have further expanded abroad, also driven by electrified vehicles. Total exports were 2.14 million units — up 76% — during the first six months of the year, due to aggressive pushes by major automakers to establish footholds in developing markets.

China overtook Japan as the largest auto exporter in the world during the first quarter. It is likely to defend that position for the first half, as Japanese exports including buses and trucks were 1.61 million units between January and May, according to the Japan Automobile Manufacturers Association. Russia was the top destination for Chinese exports, followed by Mexico and Belgium.

However, skeptics have reservations on the outlook for the Chinese auto market. Alicia Garcia Herrero, chief economist for the Asia-Pacific region at the French investment bank Natixis, questioned why there is a price war going on amid solid demand for electrified vehicles both domestically and abroad.

“We know that subsidies were lifted in 2023, but still the demand is there, and external demand is there,” Herrero told reporters on Tuesday. She believes the auto market reflects subdued sentiment in the overall economy: “Domestic demand is really weak. That really explains the very negative sentiment.”

This article first appeared on Nikkei Asia. It has been republished here as part of 36Kr’s ongoing partnership with Nikkei.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : KrAsia – https://kr-asia.com/chinese-auto-sales-grew-9-8-in-the-first-half-helped-by-low-base

Tags: Chinesenewssales
Previous Post

Hearing-impaired individuals speak their “first sentence of life” using AI

Next Post

Startup Wire | Weather The Storm

St. Pete’s Ferg’s Sports Bar & Grill ranked top local sports bar in U.S. Here’s why – FOX 13 Tampa Bay

Discover Why St. Pete’s Ferg’s Sports Bar & Grill Is America’s Top Local Sports Bar

August 30, 2025
Hottest engine in the world reveals weirdness of microscopic physics – New Scientist

The World’s Hottest Engine Unveils the Strange Secrets of Microscopic Physics

August 29, 2025
Secretary Greg Reed: ‘If we’re going to grow the economy, we must be able to grow the workforce’ – Yellowhammer News

Secretary Greg Reed: Expanding the Economy Starts with Growing the Workforce

August 29, 2025
South Park Is In Trouble And Needs To Change Course, Fast – yahoo.com

South Park Faces Major Challenges and Must Adapt Fast to Survive

August 29, 2025
RFK Jr. praises Texas for implementing his health vision – The Texas Tribune

RFK Jr. Applauds Texas for Leading the Way in His Bold Health Vision

August 29, 2025
Former special counsel Jack Smith responds to federal investigation against him about his prosecution of Donald Trump – CNN

Former Special Counsel Jack Smith Breaks Silence on Federal Investigation Into His Trump Prosecution

August 29, 2025
Lake Tanganyika cichlids partition habitat by time – Nature

How Lake Tanganyika Cichlids Share Their Habitat by Time to Thrive

August 29, 2025
Ancient Life “Wakes Up” After 100 Million Years Under the Seafloor – IFLScience

Ancient Life Resurfaces After 100 Million Years Hidden Beneath the Seafloor

August 29, 2025
Golden Apple: Seward science teacher helps students soar – KOLN | Nebraska Local News, Weather, Sports | Lincoln, NE

Golden Apple Award: Seward Science Teacher Inspires Students to Soar

August 29, 2025
Maverick Lifestyle Inc.’s Beta Climbs After Market Volatility getLinesFromResByArray error: size == 0 – thegnnews.com

Maverick Lifestyle Inc.’s Beta Climbs After Market Volatility getLinesFromResByArray error: size == 0 – thegnnews.com

August 29, 2025

Categories

Archives

August 2025
MTWTFSS
 123
45678910
11121314151617
18192021222324
25262728293031
« Jul    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (796)
  • Economy (816)
  • Entertainment (21,695)
  • General (16,745)
  • Health (9,857)
  • Lifestyle (829)
  • News (22,149)
  • People (816)
  • Politics (823)
  • Science (16,025)
  • Sports (21,315)
  • Technology (15,796)
  • World (798)

Recent News

St. Pete’s Ferg’s Sports Bar & Grill ranked top local sports bar in U.S. Here’s why – FOX 13 Tampa Bay

Discover Why St. Pete’s Ferg’s Sports Bar & Grill Is America’s Top Local Sports Bar

August 30, 2025
Hottest engine in the world reveals weirdness of microscopic physics – New Scientist

The World’s Hottest Engine Unveils the Strange Secrets of Microscopic Physics

August 29, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version