China Passenger Car Association: China's automobile exports will reach 550,000 units in July 2024, a year-on-year increase of 26%

According to the data from the China Passenger Car Association, China exported 550,000 vehicles in July this year, a year-on-year increase of 26% and a month-on-month increase of 13%, with a good growth momentum. In 2024, China's cumulative automobile exports will reach 3.48 million, with an export growth rate of 25%; among them, 1.17 million new energy vehicles were exported from January to July, a year-on-year increase of 25%. In terms of countries, the top five countries in terms of China's total automobile exports in July were: Russia 96,086 vehicles, Mexico 44,479 vehicles, UAE 32,522 vehicles, Belgium 23,869 vehicles, and Saudi Arabia 19,897 vehicles.

The top five countries in terms of total vehicle exports from January to July were: Russia 574,566 vehicles, Mexico 270,900 vehicles, Brazil 181,663 vehicles, UAE 174,472 vehicles, and Belgium 162,752 vehicles.

The China Passenger Car Association said that the main driving force for exports this year will still be the improved 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 with Chinese cars amid the Russo-Ukrainian crisis, especially the increase in exports brought about by the improved export competitiveness of China's fuel vehicles.

In addition, thanks to the surge in exports, the number of Chinese cars in the Russian market is also increasing.

A survey by Russian automobile analysis agency Autostat shows that as of July 1, 2024, the number of Chinese-brand passenger cars registered in Russia has reached a staggering 1.86 million, accounting for 4% of the total Russian automobile market.

Zikuai Technology