News Snapshot:
China’s auto exports surged 63.7% in 2023 while domestic sales, boosted by year-end incentives, rose 4.2%, an industry association said Thursday. The surge in exports, to 4.1 million according to the China Association of Automobile Manufacturers, may propel China past Japan as the world’s No. 1 exporter of cars. Japan exported 3.6 million cars in the first 11 months of the year, with a final tally expected on Jan. 31. Chinese automakers have aggressively expanded exports in search of growth missing at home as China’s economy slows. They have also pushed into electric vehicles as government subsidies transformed China into...