China Exports 4.09 Million Vehicles in 8 Months

China’s Vehicle Export Surge: 4.09 Million Units from January to August 2024

Recently, China Passenger Cars Association (CPCA) released the car exportation data of August and through January to August.

In August, China exported 610,000 vehicles overseas, gaining a 39% increase YoY, and 10% rise MoM. Accumulatively, from January to August, China exported a total of 4.09 million vehicles, reflecting an increase of 39% YoY.

Top 10 Export Destinations

In terms of the export destinations, we see these 10 countries imported most of the vehicles from China in the first eight months of 2024:

According to the data, Russia has now emerged as China's largest export destination, accounting for more than 19% of China’s auto exports in August 2024. The total value of exports to Russia hit a record $1.6 billion.

NEV Export Performance

The data also shows a robust growth on China’s exports of NEVs. From January to August 2024, 1.397 million NEVs are exported, marking a 25% YoY increase. In August alone, NEV exports stood at 180,000 units, making a 20.9% increase YoY and a 2.9% rise MoM.

Top NEV Export Destinations

Then which countries imported most of the NEVs from China? Let’s check out the list showing the top 10 countries importing NEVs from China list:

By going through the previous monthly data, we see a rise in Brazil, Belgium, Indonesia, and Mexico, and a decline in Spain, Thailand, the Netherlands, Australia, and Slovenia.