China’s passenger car exports in Jan. 2024 increased by 50.14%, Global NEVS data shows

According to data from the Global NEVS, China’s PV (passenger vehicle) exports reached 319.6 thousand units in Jan. 2024, a year-on-year increase of 50.14%. The export of new energy PV was 93.9 thousand units, accounting for 29.38% of the total PV exports.

China’s new energy vehicles export accounting for over 1/3

According to data from Global NEVS, China’s passenger car exports have maintained a growth rate of over 60% in the past three years. Following the breakthrough of the one-million mark with 1.64 million units exported in 2021, the export volume reached 2.676 million units in 2022. In 2023, the export volume of passenger cars surged to 4.426 million units, exceeding expectations and surpassing the 4-million mark, achieving a growth rate of 65.4%.

China’s new energy passenger car exports are also surging up, with growth rates exceeding that of the overall passenger car exports in both 2021 and 2022. In 2023, China exported 1.682 million new energy passenger cars, accounting for 38.01% of the total passenger car exports.

China’s largest PV export destination was Russia in 2023

Data from Global NEVS, In 2023, the TOP3 destination countries for China’s PV exports were Russia, Mexico, and Belgium. China exported 755,842 PVs to Russia in 2023, with a YOY growth of 555.4%. To Mexico, China exported 346,070 PVs, an increase of 66.2% YOY. And the export volume to Belgium was 212,206 units, with a YOY growth of 4.5%.

In 2023, the top four brands of PVs exported from China to Russia were Chery, Haval, Geely, and EXEED. These four brands were also the No.2 to NO.5 best-selling car brands in Russia’s local passenger car market in 2023.

Leading the pack, Chery exported 162,964 PVs to Russia in 2023, marking an annual cumulative YOY increase of 307.2%, and becoming the second best-selling car brand in Russia’s local passenger car market in 2023. In second place, Haval exported 118,826 PVs to Russia in the same year, with an annual cumulative YOY growth of 253.2%. Ranking third, Geely exported 84,019 PVs to Russia in 2023, with an annual cumulative YOY increase of 244.1%.

BYD’s PV exports increased 324.4% YOY in 2023

So, which brands are the main forces of China’s passenger car exports? According to data from Global NEVS, the top three brands leading China’s passenger car exports in 2023 were MG, Chery, and Tesla.

MG exported 632,550 passenger cars in 2023, a YOY increase of 50.3%. Chery exported 499,062 units, with a YOY growth of 112.5%. Tesla also contributed to the increase in China’s passenger car exports. Tesla’s passenger car exports from China 344,039 units in 2023, a YOY increase of 26.9%.

Additionally, the export volume of the BYD brand is worth noting. In 2023, BYD exported 237,473 passenger cars, marking a YOY increase of 324.4%, with 84% being BEV and 16% being PHEV. According to a report by ‘NEWS CHINA’, as of Jan.2024, BYD passenger cars have entered 59 countries or regions.

China’s passenger car exports are expected to exceed 5 million units in 2024

After the geopolitical changes and the COVID-19, the automobile industry chains of many countries have suffered considerable impact. Amidst this, the export volume of Chinese automobiles has been continuously rising, and the market penetration of Chinese new energy vehicles on the global stage is also increasing steadily. This success can be attributed to China’s complete automobile industry chain and policy support from various countries.

Industry experts predict that Chinese passenger car exports will exceed 5 million units in 2024. Taking advantage of the rising growth trend, Chinese automobile manufacturers and Chinese auto parts manufacturers will accelerate their industrial layout around the world. Enterprises related to the automotive industry chain around the world can also seek cooperation opportunities in the trend of automotive exports and welcome more development opportunities.

The Global NEVS, as a one-stop auto industry information platform, is committed to empowering enterprises to identify opportunities in the automotive market. Global NEVS provides over 15 types of data, including auto export, automobile production and sales volume, global model library, and global component manufacturers, etc. It supports viewing multi-dimensional global trends such as new energy, traditional energy, and the overall market. Global NEVS is intended to help those who want to take a deep look into auto industry by energy type, conduct product research and analyze company competence throughout the auto industry chain.

Note: The data presented in this article is sourced from the Global NEVS platform, except for those indicated as sources. Global NEVS is a platform that focuses on global automotive industry data services, supporting over 15 types of global automotive data queries and analysis, with data coverage of up to 60+countries. The platform provides data analysis charts from dimensions such as new energy, traditional energy, and the overall market, helping enterprises gain insights into the global automotive industry. Platform

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