China exported more than 6.2 million passenger vehicles in the first eight months of the year, surpassing the roughly 6 million passenger vehicles shipped during all of last year. August passenger car exports jumped 67.1% year-on-year to about 890,000 units, driven by plug-in hybrids and pure electric vehicles. Including commercial vehicles, China exported 1.01 million vehicles in August, according to China Association of Automobile Manufacturers data. Domestic passenger car sales fell 25.6% year-on-year to 1.493 million units as price competition, a slowing economy and weaker consumer confidence weighed on demand. S&P Global Ratings expects full-year passenger vehicle exports to grow 50% to 70%, with competitive pricing and vehicle quality supporting overseas demand. Fuel-price increases linked to the energy shock from the Iran war have also encouraged some gasoline and diesel vehicle drivers to shift toward EVs. Chinese automakers are expanding sales, local assembly and manufacturing in Europe, Latin America, Africa and Southeast Asia, while weak domestic demand and trade barriers are encouraging companies to redirect capacity abroad.