Global Auto Exports: China exports continue to expand

Research evidence excerpt

Global Auto Exports: China exports continue to expand

Global Foundation

July 20, 2026 01:10 PM GMT

Morgan Stanley Europe S.E., Madrid Branch+MGlobal Autos Javier Martinez de Olcoz Cerdan

Equity Analyst

Global Auto Exports: China Javier.Martinez.Olcoz@morganstanley.comMorgan Stanley & Co. International plc+ +34 9141-81289

Shaqeal A Kirunda

Equity Analystexports continue to expand Shaqeal.Kirunda@morganstanley.com +44 20 7425-0736

Matias Rodriguez Florez-Estrada

China exports are pushing the bar higher once again, with record Research Associate

Matias.Rodriguez@morganstanley.com +44 20 7425-1091

figures in many markets globally, and the trend should continue

Morgan Stanley Asia Limited+

due to a falling domestic market. Same for China APs exports, Tim Hsiao

while Tyres exports took a step back. Equity Analyst

Tim.Hsiao@morganstanley.com +852 2848-1982

• China Auto exports once again off the charts. China exports volumes jump Shelley Wang, CFA

again, +72% YoY in June; this continues to be supported by the fall in Shelley.Wang@morganstanley.com +852 3963-0047

volumes and continued pressure in the local auto markets, as China OEMs

Morgan Stanley & Co. LLC

turn to overseas markets to export overcapacity, reflected in new strong YoY Andrew S Percoco

imports growth in Europe, Latam, India, South Africa, Australia, Japan and Equity Analyst

Andrew.Percoco@morganstanley.com +1 212 296-4322

other markets outside the US. On a similar page, China auto imports keep

Daniela M Haigian

falling YoY, but are now improving sequentially, still a fraction of 2020 peak Equity Analyst

levels. Daniela.Haigian@morganstanley.com +1 212 761-6071

• European imports keep rising, led by China. These are very strong and, Morgan Stanley MUFG Securities Co., Ltd.+