Chinese auto exports rose 64% in 2023, with strong push by EVs, as makers expanded overseas

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BEIJING (AP) — China’s auto exports surged 63.7% in 2023 while sales at home, boosted by year-end incentives, rose 4.2%, an industry association said Thursday. Chinese automakers have aggressively expanded exports in search of growth missing at home as China’s economy slows. Government subsidies have transformed China into the world’s largest market for electric vehicles, even as car sales have stagnated overall. Auto sales in China totaled 21.9 million cars last year while exports jumped to 4.1 million, the China Association of Automobile Manufacturers reported. Domestic sales are down from a peak of about 24 million in 2017. The surge...