China’s Car Exports Surge as Domestic Buyers Pull Back

China is making and selling many cars to other countries.

But people in China are buying fewer cars at home.

Car companies are competing very intensely, especially in electric vehicles.

This competition has led to pressure on prices and profits.

Electric and hybrid cars were still most of the cars sold in China, but their sales also fell.

Overseas sales are growing quickly, especially for electric cars.

Companies such as BYD and Geely are using foreign markets to find more customers.

Regulators want these companies to grow abroad without starting damaging price wars.