China August Auto Output Rises MoM as Subsidies, Promotions Boost Sales

The divergence between weakening domestic demand and record export volumes is the real signal here: China's auto sector is increasingly relying on external markets to absorb output that its own consumers are not buying, even with subsidies and promotions in play. The record NEV share suggests the mix is shifting faster than the overall volume, which matters for battery, charging and raw-material supply chains tied to electrification. Whether exports can keep offsetting a fifth straight month of double-digit domestic declines is the open question.