The Growth of China's Auto Exports and Its Driving Forces in 2024

TapTechNews September 23rd news, Cui Dongshu, the secretary-general of the Passenger Car Association, wrote in an article today that the main driving forces for China's auto exports this year are the improvement of the competitiveness of Chinese products, the slight growth in the Central and South American markets, and the complete replacement of international brands in the Russian market by Chinese cars.

In August 2024, China's automobiles achieved an export of 610,000 units, with a year-on-year growth rate of 39% in August 2023 and a month-on-month increase of 10%. The year-on-year and month-on-month trends are very good; from January to August 2024, China's automobiles achieved an export of 4.09 million units, and the export growth rate was 27%.

TapTechNews attached the top 10 countries of China's total vehicle exports from January to August 2024:

Russia 705,514 units

Mexico 323,540 units

United Arab Emirates 203,048 units

Brazil 192,254 units

Belgium 182,504 units

Saudi Arabia 161,261 units

United Kingdom 137,925 units

Australia 118,888 units

Philippines 104,402 units

Turkey 95,650 units

Among them, from January to August 2024, the markets such as Australia, Thailand, Ecuador, and France decreased significantly; the Central Asian and Russian markets performed relatively strongly, and the Brazilian and Russian markets have also become the core markets for increment.

The export of Chinese new energy vehicles presents a situation of high-quality development to the developed country markets, mainly exporting to the Western European and Southeast Asian markets. In the past two years, developed countries such as Belgium, Spain, Slovenia, and the United Kingdom in Western and Southern Europe have continuously become export highlights, and there was a slight decline in August. And this year, the export to American countries such as Brazil has strengthened.