By South China Morning Post | Created at 2024-09-24 08:13:01 | Updated at 2024-09-30 11:42:23
6 days ago
As a domestic price war has brought vehicle prices so low embattled dealers have urged the government to intervene, customs data shows Chinese carmakers are also slashing prices in overseas markets to stay competitive.
While China’s exports in August were at their highest in 2024, prices for electric vehicles (EVs) have been steadily declining.
The export value of Chinese EVs rose year on year last month, but the 3.73 per cent registered was below the 10 per cent growth rate observed in the number of units exported.
This translates to an 5.74 per cent year-on-year decline in EV prices, and an 11.67 per cent drop for the first eight months. The trend is particularly evident in the European Union, where a hotly contested trade investigation over imported EVs from China continues to play out.
Although China’s EV export prices to the EU saw a slight year-on-year increase in August due to provisional tariffs, overall prices dropped by 10.56 per cent compared to the previous month.
