The Scarcity of Car-Carrying Ships Is Causing A Surge In Shipping Costs To Unprecedented Levels, Disrupting The Export Flow Of Electric Vehicles From China To Europe

08 Jan 2024 | Abstracted from Voice of Europe

Despite a 17% anticipated increase in cars shipped globally to a record 23.4 million in 2023, the industry is grappling with a 10% reduction in ship availability compared to pre-Covid-19 levels. European car imports experienced a remarkable 40% rise, with China projected to ship 4.3 million vehicles in 2023, significantly surpassing the 1 million shipped in 2020.

"Approximately one in four EVs sold in Europe originates from mainland China, emphasizing the critical role of sea freight in the supply chain."

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