China’s EV Export Boom Contrasts with Industrial Profit Slowdown
Chinese electric vehicle manufacturers shipped nearly 200,000 units in November, pushing year-to-date exports to a record 1.98 million. The growth spans Asia, Europe, Latin America, Africa, and Oceania, though North American shipments contracted amid ongoing trade tensions.
Mexico emerged as November's top destination with 19,344 EV imports—a 2,367% annual surge—while cumulative deliveries there jumped 150% this year to 96,194 units. Regional demand remains uneven: Asia absorbed 110,061 vehicles last month (up 71%), while Europe took 42,927 (up 63%).
Industrial profits fell 13.1% year-over-year in November, though less severely than forecast. Aerospace and electronics manufacturers sustained 5% growth, while mining losses persisted. Beijing maintains restraint on stimulus as the 5% annual GDP target appears achievable.
