As the popularity of Chinese automobiles increases fast around the world, so does their export from China. The company crossed a major milestone in August 2022 by exporting a large number of vehicles worldwide, up 65 percent from a year earlier. Let’s talk about the China’s Auto Exports which sold 308,000 units to various countries in August 2022.
China Association of Automotive Manufacturers (CAAM) Report:
According to the China Association of Automotive Manufacturers (CAAM) report, the company sold 308,000 units to various countries of the world in August 2022, representing a 65% rise year over year and a 6.2% increase month over month.
Additionally, this is for the first time in history that more than 300,000 Chinese vehicles have exported in a single month. Furthermore, China shipped 1.817 million vehicles in total between January to August 2022, which see an increase of 52.8% annually.
China Passenger Car Association (CPCA) Secretary Statement:
According to Cui Dongshu, general secretary of the China Passenger Car Association (CPCA), the excellent export record attributed to the perseverance of China’s car industry in continuing to produce automobiles despite the global pandemic and supply chain difficulties.
Analyzing the data thoroughly, it discovered that China shipped 83,000 new energy vehicles (NEVs) in August, an increase of 82.3% over the previous year and 53.6% over the previous month. China exported a total of 340,000 NEVs between January to August 2022, an increase of 97.4% from the previous year.
Is NEVs Expand Rapidly Globally?
Countries around the world are aggressively implementing legislation to encourage the use of NEVs, creating a fantastic potential for Chinese new energy vehicles to expand internationally. According to estimates, 3 million Chinese automobiles will sold abroad in 2025 and 5.5 million in 2030. The bulk of Chinese NEVs has shipped to industrialized nations in Europe, America, and Australia, whereas the majority of Chinese gasoline vehicles has exported to nations in South America, Africa, and Southeast Asia.
Additionally, according to CITIC Securities, the biggest securities agency in China with businesses in investment banking, brokerage, securities trading, and asset management, the global sales of Chinese electric vehicles are anticipated to reach 2.5 million units in 2030.
