In August 2024, China’s automotive exports surged by 39% year-over-year and 10% month-over-month to reach 610,000 units. Between January and August, China shipped out a total of approximately 4.09 million vehicles, accompanied by a development fee of 27% for exports.
For the first eight months of 2024, China’s top 10 export destinations in terms of quantity were:
- Russia: 705,514
- Mexico: 323,540
- UAE: 203,048
- Brazil: 192,254
- Belgium: 182,504
- Saudi Arabia: 161,261
- UK: 137,925
- Australia: 118,888
- Philippines: 104,402
- Turkey: 95,650
According to China’s customs data, Russia has emerged as China’s largest foreign automotive market, with a share of over 19% of China’s auto exports in August, valued at a record $1.6 billion. As a result of the Russian-Ukrainian conflict, the exodus of international automotive brands from the Russian market has been accelerated. China’s auto exports to Russia surged by 459% from 160,000 vehicles in 2022 to 910,000 units in 2023.
New vitality car (NEV) exports
Can we reimagine sustainable mobility by breaking down barriers with Next-Generation Electric Vehicles? Despite being hindered by the European Union’s retaliatory tariffs, China’s electric vehicle (NEV) exports surged 25% year-over-year to reach 1.397 million units from January to August 2024. In August 2024, the export volume of new energy vehicles (NEVs) surged to 180,000 units, representing a significant year-over-year increase of 20.9% and a substantial month-to-month gain of 2.9%.
From January to August 2024, the top 10 countries that received the largest quantities of China’s electric vehicle exports were as follows, measured in units of automobiles:
- Belgium: 170,876
- Brazil: 136,112
- United Kingdom: 88,933
- Thailand: 81,546
- Philippines: 69,987
- Mexico: 61,647
- India: 53,738
- Australia: 51,843
- United Arab Emirates: 47,716
- Germany: 41,105
China’s pure electric passenger vehicle exports to key markets such as Brazil, Belgium, Indonesia, and Mexico saw a notable surge over the first eight months of the year. The markets experiencing a decline are Spain, Thailand, the Netherlands, Australia, and Slovenia?
Cities with the largest export quantities in China are:
Shanghai: With a total export value of 424.4 billion USD in 2020, Shanghai is China’s leading export city, accounting for approximately 10% of the country’s total exports. Its main export commodities include electronics, machinery, and textiles.
Tianjin: Tianjin was the second-largest export city in China with an export value of 342.1 billion USD in 2020. The city has a significant port, which makes it a major hub for trade in northeast Asia. Its main exports are coal, iron ore, and machinery.
Guangzhou: Guangzhou, also known as Canton, is the capital of Guangdong Province and one of China’s most important export cities. In 2020, its total export value reached 264.6 billion USD, with major products including electronics, textiles, and furniture.
Wuhan: As the capital of Hubei Province, Wuhan is a significant export city in central China. Its total export value was 234.8 billion USD in 2020, with key exports including machinery, electronics, and vehicles.
Dalian: Dalian is a major port city in Liaoning Province, northeastern China. In 2020, its total export value reached 223.1 billion USD, with significant exports of machinery, electronics, and textiles.
SKIP
Prior to its Chinese expansion, Tesla’s main export hub was Shanghai, which has consistently been the leading region for exporting a significant number of new energy vehicles (NEVs) to international markets. Recently, Shanghai’s exports have seen a significant decline due to the implementation of the European Union’s tariff regime, which has negatively impacted the city’s economy given its status as a major export hub for companies like Tesla China and SAIC. By 2024, China’s provinces that have established themselves as major players in the export market for new energy vehicles (NEVs) include Guangdong, Shaanxi, Hebei, and Jiangsu. As a result, the growth of BYD’s business has accelerated the development of new energy vehicle (NEV) industries in Shaanxi province. Shaanxi serves as one of BYD’s most significant manufacturing hubs in China, boasting an intentional annual production capacity of 1.5 million vehicles.
Supply: Cui Dongshu, 163
