China's Hybrid Car Exports to EU Nearly Triple in September Ahead of Import Cap

Chinese hybrid vehicle shipments to the European Union reached close to 100,000 units in September, a 204.2 per cent increase compared with the same month a year earlier, according to customs data released on Tuesday. The monthly figure also represented an 18.9 per cent gain over August. The expansion in hybrid exports exceeded the 142.7 per cent year-on-year growth recorded for China's overall passenger car shipments to the bloc. Lynn Song, chief economist for Greater China at ING, attributed the acceleration partly to dealers attempting to secure as many purchases as possible before potential quotas or tariffs tied to trade negotiations. Her remarks pointed to high-level talks held in Beijing in early October as a factor shaping shipment timing. Analysts broadly suggested that manufacturers were front-loading vehicles ahead of an import cap agreed during those recent trade discussions, which is scheduled to take effect at the end of the year. Shipments are expected to stay elevated in the period before that limit applies.