China’s vehicle sales and exports are expected to slow due to weak demand and ongoing external uncertainties, according to a major Chinese industry association.
Vehicle sales are expected to grow 1% this year, cooling from 9.4% last year, Reuters reported, citing data from the China Association of Automobile Manufacturers.
Sales growth of electric vehicles and plug-in hybrids is set to slow to 15.2% from 28.2%, while vehicle exports are likely to rise 4.3% after a stronger-than-expected 21.1% growth in 2025, CAAM data showed on Wednesday.
Further, it said the regulation over zero-mileage used cars, a tactic used by automakers to sell new cars as second-hand vehicles at heavily discounted prices, will intensify inventory pressure at home in the short term, the report added.
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