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The EU's anti-subsidy investigation has had a significant impact on China's auto exports.

According to data from the China Passenger Car Association, in June this year, China's exports of new energy vehicles, including pure electric and plug-in hybrid vehicles, fell 15.2% from May, but still increased by 12.3% year-on-year.

SAIC's new energy vehicles are waiting to be exported at Lianyungang Port in Jiangsu Province on July 16, 2024.

Generally speaking, the growth rate of China's new energy vehicle exports has been in the range of 30%-40% in recent years, but has now slowed down to just over 10%. However, Cui Dongshu, secretary general of the China Passenger Car Association, said that the pressure on China's new energy vehicle exports is temporary. However, it cannot be ignored that the EU's anti-subsidy investigation has indeed had a significant impact on exports.

In June, the European Union confirmed that it would impose tariffs of up to 37.6% on electric vehicles imported from China, including Tesla and some European car brands produced in China, from July 5.

According to data from China's General Administration of Customs, China exported 27,180 electric vehicles to the EU in June, down about 25% from 36,217 in May and down about 31% from the same period last year.

According to the China Passenger Car Association, exports of China-made Teslas to the European Union fell to their lowest level since the third quarter of 2022.

It is reported that the EU is the largest export market for Tesla electric vehicles made in China. Data shows that Tesla's market share in Europe has fallen from about 18% in 2023 to about 15.5%.