![]() ![]() But the rise in electric-vehicle production has boosted made-in-China cars in Europe, which is now the biggest market for Chinese auto exports.Ĭhina exported over 852,000 EVs in the first 10 months of this year, up from almost nothing a short while back. Just a few years ago, China was mainly selling cars to developing nations in Africa and the Middle East. It's also a telling sign of how far Chinese automakers' export ambitions go. Toyota owns shipping company Toyofuji Shipping, while Hyundai Motor has logistics group Hyundai Glovis Co. This latest pinch point may be new but BYD and SAIC are not the first automakers to run their own shipping fleets. "Whether we like it or not, we actually have to smooth out the delivery of cars intra-quarter, because there just aren't enough transportation objects to move them around," Musk said. "There weren't enough boats, there weren't enough trains, there weren't enough car carriers to actually support the wave" of vehicle deliveries at the end of the last quarter, CEO Elon Musk said during Tesla's third-quarter earnings call. Tesla, which uses Anji Logistics' car carriers, has also had trouble transporting vehicles from its factories. Shipping costs have skyrocketed and there is now "lots of investment pouring into building new ships for vehicle transport because of this demand-supply mismatch."Ĭhinese automakers are not alone in their desire for more freighters. With the vessels in question not expected to come online for several years yet, it's a bold bet on lasting global consumer demand for Chinese cars.Ĭhina recently overtook Germany as the world’s second-largest auto exporter, sending almost 2.6 million vehicles abroad in the first 10 months of 2022, eclipsing 2021's volumes.Įven October's unexpected drop in demand for Chinese goods didn’t derail that upward trajectory with car and chassis exports growing 60 percent from a year earlier to 352,000 units in the period, or a record high $7.1 billion.īut while auto exports have surged, "the number of car carriers globally has barely increased," said Xing Yue, the head of Clarksons Research Services in Shanghai, a unit of the world's largest shipbroker. Representatives for SAIC and BYD declined to comment. State-owned SAIC Motor Corp., which already operates the world's fifth-largest shipping fleet via transport arm SAIC Anji Logistics, has a tender out for seven new carriers that can each hold 8,900 vehicles. Two of China's biggest automakers are so determined to ensure their cars make it from factories on the mainland to anyone who wants to drive them they have bought their own ships.īYD, which only makes electric and hybrid cars, is going the extra length to avoid any last mile supply chain snarls, ordering at least six ships in October, each with the capacity to carry 7,700 cars, for 5 billion yuan ($710 million). ![]()
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