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Trade Trends News
20-07-2023
According to China Association of Automobile Manufacturers (CAAM) statistics, in the first half of this year, China's auto exports 2.14 million vehicles, up 75.7% year-on-year. Among them, 1.78 million passenger cars were exported, up 88.4% year-on-year; 534,000 new energy vehicles were exported, up 160% year-on-year.
In the past few years, China's auto exports hovered around 1 million units per year. It was not until 2021 that the export volume exceeded 2 million units for the first time. By 2022, exports surpassed 3 million units, making China the second-largest auto exporter after Japan. By the end of 2023, China's auto exports are expected to exceed 4 million units, said Fu Bingfeng, executive vice president and secretary general of the China Association of Automobile Manufacturers.
BYD, Chery see fastest growth in exports
In the first six months of 2023, China's auto exports exceeded 100,000 units of seven companies, namely SAIC Group, Chery Automobile, Tesla China, Changan Automobile, Great Wall Motor, Geely Automobile and Dongfeng Motor. Among them, BYD exported 81,000 vehicles, up 1,060% year-on-year; Chery Automobile exported 394,000 vehicles, up 170% year-on-year; and Great Wall Motor exported 124,000 vehicles, up 97.3% year-on-year.
It is worth noting that China's auto exports are mainly divided into two categories: independent brands and foreign/joint venture brands. In the first half of this year, Tesla China exported 182,000 cars, becoming China's third largest auto export brand, accounting for one-third of China's new energy vehicle exports. In addition, SAIC also showed good momentum in markets such as Mexico, Australia, the United Kingdom, Saudi Arabia, India and Thailand. Chery performed well in Russia, Mexico, Chile and other markets.
Overall, Asia, Europe and Latin America are the main markets for China's auto exports. Data from January to May this year show that the top three countries in China's auto imports are Russia, Mexico and Belgium. Among them, the top three countries for China's new energy vehicle imports are Belgium, the United Kingdom and Thailand.
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