China Exports 2.45 Million Vehicles This Year

According to Car News China, citing data from the China Passenger Car Association (CPCA), the country has just announced that it exported 568,000 vehicles in May, a 29% increase from the same period last year. Cumulatively, from the beginning of the year, China has exported a total of 2.45 million vehicles to foreign markets, achieving a 26% growth compared to the same period in 2023.

According to the CPCA, the total export value of China’s automobile group in the first five months reached 46.4 billion USD, equivalent to an average export value of nearly 19,000 USD per vehicle.

In May, Russia was the top recipient of Chinese-made vehicles, with a total of 103,763 cars arriving in the country. Brazil followed closely with 53,164 vehicles. Mexico, Belgium, and the UAE were the next top markets, importing 42,192, 28,851, and 28,661 vehicles, respectively.

However, Brazil was the largest importer of new energy vehicles from China in May, with a total of 45,501 units. Thailand also made the list, importing 8,174 new energy vehicles from China in the same month.

Since the beginning of the year, approximately 870,000 new energy vehicles from China have been exported worldwide. According to the CPCA, this figure represents a 29% growth compared to the same period last year.

China’s auto exports continue to grow year-over-year. Image: Bloomberg.

Car News China reports that Russia remains the largest importer of Chinese vehicles in 2024. In the first five months, the country imported a total of 372,542 vehicles from China. Two South American countries, Mexico and Brazil, ranked second and third, with 190,897 and 159,612 vehicles, respectively.

It is worth noting that exports to countries such as Australia, Spain, Israel, Thailand, and Ecuador have significantly decreased in the first five months of the year. In contrast, markets in Central Asia and Russia have shown robust growth in the number of imported Chinese-made vehicles.

According to Car News China, the growth in exports of plug-in hybrid electric vehicles (PHEVs) from China has been particularly strong in markets like Brazil and Mexico. On the other hand, imports of Chinese PHEVs into Belgium, France, Germany, Israel, and the UAE have declined in the same period.

Last year, China officially surpassed Japan to become the world’s largest exporter of vehicles. In 2023, China announced a total export of 5.221 million vehicles globally, a 57.4% increase compared to the previous year.

However, this impressive performance by the Chinese automotive industry may soon be outdone. In just the first five months of this year, China has already achieved 47% of last year’s total export volume of 5.221 million vehicles.