Overview of China’s Car Exports in January 2024

According to data from the GlobalNEVS platform, China exported 319,600 passenger vehicles in January 2024, a year-on-year increase of 50.14%. Among them, the export of new energy passenger vehicles was 93,900, accounting for 29.38% of the total passenger vehicle exports.

The export growth rate of automobiles is fast

The export growth rate of passenger vehicles in China is rapid, with electric vehicles accounting for over one-third of the total.

According to data from the GlobalNEVS platform, China’s passenger car export growth has remained above 60% for the past three years. Since surpassing the milestone of one million units in 2021 with passenger car exports reaching 1.64 million units, exports further increased to 2.676 million units in 2022 and reached 4.426 million units in 2023, surpassing the 4-million mark with a remarkable growth rate of 65.4%.

The export performance of China’s new energy passenger cars has also been impressive. In both 2021 and 2022, the growth rate of China’s new energy passenger car exports exceeded that of overall passenger car exports. In 2023, China exported 1.682 million new energy passenger cars, accounting for 38.01% of the total passenger car exports.