Chinese auto exports surge, partly offsetting a sales slump at home

Associated Press

BEIJING (AP) — China has reported its auto sales slumped in June as the domestic economy remained sluggish, but buoyant exports offset the decline at home. The China Association of Automobile Manufacturers said Wednesday that sales in China dropped 7.4% compared to a year earlier to 1.8 million cars, while exports rose 29% to 400,000 units. In the first six months of the year, exports rose 31.5% while domestic sales edged up 1.6%. The surge in exports comes at a time of growing concern in Europe and the United States that inexpensive China-made cars could overwhelm established automakers in the West.