The year 2024 has just passed, a year in which “Made in China” vehicles, including local Chinese brands, continued to gain popularity around the world, and China’s automobile exports once again hit a record high.
On January 13, China’s General Administration of Customs released data showing that 6.41 million vehicles (including chassis) were exported in 2024, up 23% year-on-year; the value of automotive exports was $117.4 billion, rising from 1.7% to 3.3% of China’s total exports.
In 2023, China overtook Japan for the first time as the world’s top auto exporter with 5,221,000 vehicles exported, after Japan had held that position for decades.
The full-year data for 2024 has not been released by Japan so far, but from January to November of that year, the cumulative export of Japanese cars was only 5.26 million units.Such a huge gap, Japanese car companies have been difficult to catch up in a month’s time in December.China is defending its title, and it’s already a nail-biter.
The bright export results of 2024 cannot be separated from the collective self-improvement and efforts of China’s local automakers.
Export list look, Chery, SAIC took the first and second place, respectively, exported 1.14 million units and 920,000 units.
Next were Changan with 536,000 units, Geely with 532,000 units, Great Wall with 453,000 units, BYD with 433,000 units and BAIC with 274,000 units.
Among them, BYD’s year-on-year export growth of more than 70% in 2024, “acceleration” hit the first domestic.
Cars produced at Tesla’s Shanghai Superfactory have also contributed to China’s auto exports, which totaled 260,000 complete vehicles in 2024.But that figure has fallen out of the top five.
In 2024, despite tariff headwinds in Europe and elsewhere, Chinese car companies are still showing great resilience and strength in expanding their overseas markets.
According to Lv Daliang, director of the Statistics and Analysis Department of the General Administration of Customs, in 2024, China’s exports of new energy vehicles exceeded 2 million for the first time.
The 21st Century Business Herald commented that in 2021, new energy vehicles in China’s auto exports accounted for almost “negligible”, but in just three years, to realize the super-acceleration, and now exceeds 2 million, lifting the strong rise of independent brands.During this period, China consecutively surpassed South Korea, Germany and Japan, becoming the world’s largest auto exporter, new energy vehicles, has become an important label of Chinese cars in overseas markets.
The strong rise of new energy vehicles has allowed Chinese car companies to get more initiative.
Passenger Association data show that from January to November 2024, China’s total vehicle exports of the top five countries, respectively, Russia, Mexico, the United Arab Emirates, Belgium, Saudi Arabia; and new energy vehicle exports of the total number of top-ranking countries are Belgium, Brazil, the United Kingdom, Thailand, the Philippines.
Cui Dongshu, secretary-general of the National Passenger Vehicle Market Information Association, said, “A complete, efficient and cost-effective new energy automobile industry chain is the advantage of China’s automobiles going to sea, whether in developed countries in Europe and the United States, or in the emerging markets in the South, which is the key to our firm footing.”
The following news is also noteworthy in the automotive industry world this week
① On January 16, the China Association of Automobile Manufacturers (CAAM) issued a statement saying that it firmly opposes the U.S. Biden administration’s rule banning the use of Chinese intelligent Internet-connected vehicle hardware and software.China Association of Automobile Manufacturers (CAAM) said that the Biden administration’s unilateral adoption of administrative restrictive measures to forcibly cut off economic and trade exchanges and industrial cooperation with specific countries not only destroys fair competition in the global automobile market, but also will have a far-reaching and adverse impact on the global industrial chain.The ultimate damage is to the interests of the U.S. industry and consumers.
② A few days ago, foreign luxury car brands represented by BBA (BMW, Mercedes-Benz and Audi) have announced their sales in 2024, and the sales of the three major brands have shown a downward trend.The data show that in 2024, BMW’s global sales were 2,451,000 units, down 4% year-on-year; Mercedes-Benz’s global sales were 1,983,000 units, down 3% year-on-year; Audi’s global sales were 1,671,000 units, down 12% year-on-year. Overall, BBA’s sales decline last year had much to do with the poor performance of the Chinese market.
③ On January 13, Zhejiang Zero Run Technology Co., Ltd (hereinafter referred to as “Zero Run Auto”) released a profit forecast, announcing that the company successfully realized positive net profit in the fourth quarter of 2024, and completed the single-quarter profit target one year ahead of schedule.This marks that Zero Run Auto has become the second new car-making force to realize profit after Ideal Auto.In terms of sales, Zero Run Auto’s annual deliveries reached 293,700 units in 2024, a 104% increase from 2023.
④ On January 10, GAC Group released an announcement, announcing the establishment of GH Company with Huawei, which will create a new car brand.The board of directors of Guangzhou Automobile Group considered and passed the “Proposal on GH Project”, and agreed that the company would invest in the establishment of a GH project company (tentative name) with a registered capital of 1.5 billion yuan.GAC plans to use this project company as a vehicle to deeply integrate its respective strengths with Huawei, and through joint definition and design, launch comprehensive cooperation in multiple areas such as product development, marketing strategy, and eco-services, so as to create a new automotive brand based on a new architecture and leading technology, and launch a series of intelligent new model products.
Article source: synthesized 21st Century Business Herald, Securities Daily, Xinjing Daily and other media reports
