UPDATE 1-China has been closing idled auto output capacity, industry body says

[ASFN Admin]

China's auto factories had a capacity utilisation rate of more 70% in 2023 and idled capacity is being closed, a senior official of the China Association of Automobile Manufacturers (CAAM) said on Wednesday. Such closures should help the capacity utilization rate improve faster, according to Chen Shihua, CAAM's deputy secretary-general. His comment comes as China's electric vehicle sector has been criticised by officials in the U.S. and Europe for exporting overcapacity, as Chinese automakers increasingly look to sell abroad.

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