China's Passenger Car Exports Soar by 73% in May: Electric Vehicles Lead the Way

China's Passenger Car Exports Soar by 73% in May: Electric Vehicles Lead the Way

China's passenger car exports saw a significant increase of 73% year-on-year in May, reaching approximately 809,000 vehicles, according to a report by the China Association of Automobile Manufacturers. This surge in exports was attributed to the rise in gasoline and diesel prices following the conflict in Iran, which sparked greater interest in electric vehicles. The export of pure electric vehicles (EVs) and plug-in hybrids also more than doubled in May compared to the previous year, totaling around 435,000 units, accounting for over half of the total exports.