China’s car exports rose more than 50% in the first nine months of 2022, shipping out more than 2-million vehicles
Tesla would have delivered more cars in the most recent quarter but for a shortage of boats. It’s having problems finding vessel capacity out of Shanghai. No wonder: China recently overtook Germany as the world’s second-largest car exporter.
European politicians mustn’t be naïve but they should be wary of wielding a big stick: harsh new trade barriers on China would raise the cost of electric vehicles while lessening pressure on European automakers to boost their competitiveness. They’ve also pulled ahead in the software and infotainment features Chinese consumers demand. With the exception of Tesla, western carmakers have often failed to keep up.
However, there’s still a lot of work to better establish Chinese brands, dealer networks and service centres. Deals like the one BYD struck in October with German rental-car company Sixt SE to buy around 100,000 EVs, will help build consumer awareness. Stellantis CEO Carlos Tavares wants Europe to raise tariffs on imported Chinese models. Meanwhile, French President Emmanuel Macron says purchase incentives should be contingent on local production, as they now are in the US following the Inflation Reduction Act. Germany, whose car industry has far more to lose if China retaliates, has so far been more reticent. German auto executives are part of Chancellor Olaf Scholz’s delegation of business leaders visiting China this week.
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