China NEVs Top 60% of New-Car Sales as Exports Offset Domestic Slump

New-energy vehicles accounted for more than 60% of China’s new car sales for the first time in July, as a surge in exports offset a double-digit decline in domestic demand.

The milestone underscores the extent to which Chinese automakers are leaning on overseas markets as growth at home weakens. But that outward push is also encountering rising obstacles, from a less favorable political climate in parts of Europe to signs of overcapacity emerging in Southeast Asia.