With the rapid development of China’s automobile industry, automobile exports have become an important driving force for the growth of China’s automobile industry.
In 2024, China’s automobile exports continued to maintain strong growth momentum.
Data show that in the first 11 months of 2024, China’s automobile exported 5,833,600 vehicles, an increase of 22.6% year-on-year, with an export value of 107.372 billion U.S. dollars, an increase of 15.8% year-on-year.
Chinese automobiles are favored by overseas markets for their innovative technology and excellent quality.
Looking ahead to the new year, how is the trend of China’s auto exports?
In this regard, China Chamber of Commerce for the Import and Export of Machinery and Electronic Products, Automotive Internationalization Committee Secretary General Sun Xiaohong is expected to 2025, China’s auto exports will climb again, the growth rate of about 10%, is expected to reach the level of 6.6 million units.
More diversified export markets
In the past year, China’s auto export market showed diversified features, covering not only developed markets but also emerging and developing markets.
Currently, the top three destination countries for China’s complete vehicle exports are Russia, Mexico and the UAE, with exports to the UAE reaching triple-digit growth year-on-year.
Data show that in the first 11 months of 2024, China exported 1,059,700 complete vehicles to Russia, up 26.1% year-on-year; 422,000 complete vehicles to Mexico, up 12.1% year-on-year; and 291,600 complete vehicles to the UAE, up 113% year-on-year.
Mexico, Russia and Chile are the top three destination countries for China’s truck exports.Data show that in the first 11 months of 2024, China exported 85,800 wagons to Mexico, up 63.5% year-on-year; 63,500 wagons to Russia, down 13.8% year-on-year; and 30,300 wagons to Chile, up 22.1% year-on-year.
The top three destination countries for China’s bus exports are Saudi Arabia, Vietnam and Peru.
Data showed that in the first 11 months of 2024, China exported 7,846 buses to Saudi Arabia, up 88.8% year-on-year; 6,732 buses to Vietnam, up 46.9% year-on-year; and 5,408 buses to Peru, down 12.7% year-on-year.
Highlights of the export structure
In terms of export structure, passenger cars are still the main force of export, including sedans, SUVs and MPVs.
These models are able to meet the demands of overseas markets, especially SUVs, which have become the first choice of overseas consumers thanks to their off-road performance and spaciousness.
According to the data, China’s passenger car exports exceeded 5 million units from January to November 2024, with an export value of US$80.183 billion, up 23.8% and 16.2% year-on-year, respectively.
Commercial vehicles are also an important part of China’s automobile exports, including trucks and buses.
With the continuous promotion of global infrastructure construction, the market demand for commercial vehicles continues to grow, providing a wide space for China’s commercial vehicle exports.
According to the data, China’s commercial vehicle exports amounted to 830,700 units and $27.189 billion from January to November 2024, up 15.9% and 14.7% year-on-year, respectively.
New energy vehicles are a major highlight of China’s auto exports.
With the increasing global emphasis on environmental protection and sustainable development, the competitiveness of China’s new-energy vehicles in the international market is rapidly improving, and China’s new-energy vehicle exports have also realized year-on-year growth in the past year.
Data show that in the first 11 months of 2024, China exported 1,823,400 new-energy passenger cars, up 17.5% year-on-year, with an export value of $37.374 billion.
Belgium, the UK and Brazil are the top three export destinations for China’s new energy passenger vehicles.
Data show that in the first 11 months of 2024, China’s exports of new energy passenger cars to Belgium amounted to 6.432 billion U.S. dollars, a year-on-year increase of 21.7%; to the United Kingdom of new energy passenger cars amounted to 3.356 billion U.S. dollars, a year-on-year decline of 24.5%; to Brazil’s exports of new energy passenger cars amounted to 2.928 billion U.S. dollars, a year-on-year increase of 148.7%.
Accelerating overseas market layout
China has provided multifaceted policy support for auto exports, aiming to promote the internationalization of the auto industry and enhance the competitiveness of Chinese auto brands in the international market.
In February last year, the Ministry of Commerce and other nine departments issued the Opinions on Supporting the Healthy Development of Trade Cooperation in New Energy Vehicles, which put forward 18 initiatives in six areas, namely, enhancing the capacity and level of international operation, improving the international logistics system, strengthening the financial support, optimizing the trade promotion activities, creating a good trade environment, and enhancing the ability to prevent the risk, which has promoted the enhancement of the quality of the new energy automobile trade cooperation.
Under the guidance of the policy, many Chinese automobile enterprises have increased their export efforts and actively laid out their overseas markets, and BYD is one of them.
Data show that BYD’s overseas sales of passenger cars amounted to 417,204 units in 2024, a year-on-year increase of 71.9%.Meanwhile, BYD has invested in factories in Thailand, Hungary and Brazil, further enhancing its production capacity and competitiveness in overseas markets.
Today, BYD’s new energy vehicles have covered 96 countries and regions around the world, especially in Europe and South America, where BYD’s automotive products are recognized by local consumers.
Not only BYD, SAIC also continues to lay out the international market in depth.
2024, SAIC’s terminal deliveries in the overseas market reached 1,082,000 units, a year-on-year increase of 2.6%, and SAIC MG focuses on the HEV segment, with its sales volume exceeding 240,000 units in Europe, realizing a counter-trend growth.
At the same time, SAIC actively strengthens international cooperation, and has built a full value chain of the automobile industry overseas, including innovation and R&D centers, production bases, marketing centers, supply chain centers and financial companies, and its products and services have entered more than 100 countries and regions around the world.
SAIC has three major R&D and innovation centers, four vehicle manufacturing bases, more than 100 parts and components production and R&D bases, and more than 2,800 marketing and service outlets overseas, and has developed into an automotive enterprise with “the whole industry chain going to sea”.
Article source: International Business Daily
