in the first eight months, automobile exports exceeded 3 million units, with new energy vehicles accounting for about a quarter
2024-09-21
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the latest data released by the china association of automobile manufacturers show that from january to august 2024, a total of 3.175 million passenger cars were exported, a year-on-year increase of 29.4%, with new energy vehicle exports accounting for about a quarter.
from the perspective of export energy structure, from january to august, 2.955 million traditional fuel vehicles were exported, a year-on-year increase of 33.4%; 818,000 new energy vehicles were exported, a year-on-year increase of 12.6%. among them, 402,000 traditional fuel vehicles were exported in august, a year-on-year increase of 26.4%; 110,000 new energy vehicles were exported, a year-on-year increase of 22%.
the important reasons for the export growth are the huge international cost-effectiveness of domestic fuel vehicles and the strong export of new energy vehicles. in addition, russia has contributed a huge increase, and the number of chinese automobile exports has shown a strong growth. among them, affected by the conflict between russia and ukraine, foreign brands such as europe and the united states have withdrawn from the russian market. starting from 2022, the market share of chinese brands in the russian market began to increase significantly, and in 2023 russia became the largest market for chinese automobile exports. according to a research report by autostat, a russian automobile market analysis agency, in the first half of 2024, six chinese cars entered the top ten sales of new passenger cars in russia.
according to a report released by the china passenger car association, the top five countries in terms of total vehicle exports in the first half of this year were russia (478,000 vehicles), mexico (226,000 vehicles), brazil (171,000 vehicles), the united arab emirates (142,000 vehicles) and belgium (139,000 vehicles); the top five countries in terms of china's automobile export growth in the first half of the year were brazil, russia, the united arab emirates, mexico and kyrgyzstan.
on the other hand, new energy vehicles have become a major growth point for exports, mainly exported to western europe and southeast asia. at the same time, new energy vehicle exports have also become a key factor in promoting overall structural growth towards developed countries. china's automobile industry has not only taken a leading position in the domestic market, but also demonstrated strong competitiveness in the international market through the transformation of new energy electrification, continuous improvement of technological innovation capabilities, optimization of market adaptability, and enhancement of after-sales service guarantees. the top five countries in terms of total new energy vehicle exports in the first half of this year were: brazil (133,000 vehicles), belgium (130,000 vehicles), the united kingdom (76,000 vehicles), thailand (62,000 vehicles), and the philippines (52,000 vehicles).
over the past years, china's automobile exports have hovered around 1 million vehicles per year, and the unit price of exported cars is also relatively low. it was not until 2021 that china's automobile exports showed explosive growth, exceeding 2 million vehicles for the first time. in 2023, china became the world's largest automobile exporter, with automobile exports reaching 4.91 million vehicles, a year-on-year increase of 57.9%. with the increase in sales, the average price of china's exported cars has also increased. especially in the era of new energy vehicles, my country has become the world's largest new energy vehicle market, and some companies' electric vehicle products are high-end models.
"the market share of china's own brands has been rising steadily. the breakthrough of china's automobile industry has been made in the past three years, but the accumulation has been based on the past 40 years." xu haidong, deputy chief engineer of the china association of automobile manufacturers, said that chinese cars can now compete with german, american and japanese cars, and are not inferior at all. at present, china's new energy vehicle exports account for a quarter of its automobile exports, and china's fuel vehicle products are still quite competitive internationally. xu haidong believes that china's automobile exports must rely on high-quality development rather than low prices. in the future, products must be sold at high prices and pursue high added value. china's automobile industry will produce at least 10 international brands.
in addition, china's automobile exports used to be mainly sold through import and export trade. currently, many automakers are accelerating their overseas expansion plans, building factories in overseas markets, and constructing local industrial chains. taking the thai market as an example, chinese automakers such as great wall, changan, byd, saic mg, and aion have all built factories in thailand, using new energy to seize the local thai market and radiate the southeast asian market.
a recent research report released by guotai junan securities shows that china's new energy production capacity has great potential to go overseas, and chinese automakers are accelerating their overseas factory layout. in 2023, byd, great wall motors, changan automobile and other automakers have announced new overseas factory construction plans. it is expected that a batch of new factories with large production capacity will be put into production in 2024-2025, and the overseas production capacity layout of chinese automakers has entered a new stage. with global electrification and overseas customer expansion, china's leading auto parts manufacturers will build factories in europe, north america, southeast asia and other regions from 2022 to 2023 to achieve localized production and localized production, give play to their manufacturing advantages, and continuously increase their global share. from 2025 to 2026, they will enter the harvest period of overseas orders and capacity release.
(this article comes from china business network)
