Tesla would have delivered more cars in the most recent quarter, but for a shortage of ships. It is having problems finding vessel capacity out of Shanghai. No wonder: China recently overtook Germany as the world’s second-largest car exporter.

China’s car exports rose more than 50 per cent in the first nine months of this year, shipping out more than two million vehicles. This is not just Western carmakers using China as an export hub – home-grown brands are also finding their footing on the world stage. And demand is being led by Europe, the birthplace of the car, where a supply-chain crunch, energy crisis and the war in Ukraine continue to hamstring manufacturers.