China’s automakers are increasingly turning to overseas markets as domestic sales slump and factories operate below capacity, intensifying competition with foreign manufacturers already facing an influx of Chinese-made vehicles.
Domestic vehicle sales in China fell 26 percent in September from a year earlier, while exports surged 61.4 percent, according to figures released by the China Association of Automobile Manufacturers (CAAM) on Oct. 12.
On Oct. 7, the United States and 14 other economies, including the European Union, Japan, South Korea and Canada, signed a joint statement committing to coordinated efforts against structural industrial overcapacity and market-distorting policies.We had a problem loading this article. Please enable javascript or use a different browser. If the issue persists, please visit our help center.
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