China's Car Exports Surge as Kia Tops 10,000 in August
China's car industry has experienced a surge in exports, surpassing Japan as the world leader, as overseas demand for inexpensive vehicles made in China continues to grow. Chinese automakers have captured significant market shares in Russia, Southeast Asia, Australia, South America, and Mexico, and are now preparing to expand into Europe. However, the lack of specialized ships to carry the cars remains a challenge. Chinese carmakers are stuck with unused factory capacity for gasoline-powered cars, as Chinese consumers increasingly prefer electric vehicles. To address this, Chinese automakers are building a fleet of car-carrying ships to meet the rising demand for their vehicles abroad.