Shulou(Shulou.com)11/24 Report--

According to CTOnews.com news on November 21, retail sales in China's narrow passenger car market reached 2.033 million in October, an increase of 10.2 percent over the same period last year and 0.7 percent month-on-month growth of 17.267 million vehicles from January to October, an increase of 3.2 percent over the same period last year.

According to the official account of Cui Dongshu, the passenger association, China exported 526000 cars in October 2023, with an export growth rate of 47%. From January to October 2023, China exported 4.24 million cars, with a sustained strong export growth rate of 58 per cent. The average price of car exports in 2023 was $20000 (CTOnews.com Note: currently about 143000 yuan), up slightly from $18000 in 2022.

Tuyuan Pexels pointed out that new energy vehicles are the core growth point for the high-quality growth of China's automobile exports, changing the passive situation of relying on some poor countries and non-standard countries such as Asia and Africa.

Data show that China exported 590000 new energy vehicles in 2021, 1.12 million new energy vehicles in 2022, and 1.445 million new energy vehicles from January to October this year, an increase of 69 percent over the same period last year. Among them, 1.4 million new energy passenger vehicles were exported in 2023, an increase of 77 percent over the same period last year, accounting for 97 percent of new energy vehicle exports.

He also mentioned that if Chinese new energy car owners export to Western European and Southeast Asian markets, Belgium, Spain, Slovenia and the United Kingdom in Western and Southern Europe have become export bright spots in the past two years, while exports to Southeast Asian countries such as Thailand have strengthened this year, while exports of new energy vehicles to Europe temporarily slowed in October.

In 2023, vehicle exports are mainly in Russia, Mexico, Australia, the United Kingdom and other markets, and Russian exports make a great contribution. It is said that China exported 160000 cars to Russia in 2022 and 736000 cars to Russia from January to October 2023, an increase of 489 percent over the same period last year.

In October, China exported 97000 vehicles to Russia, an increase of 425 per cent over the same period last year. Among them, the surge in exports such as heavy trucks and tractors has made a great contribution to Russia. In addition, there has been a strong growth in China's exports to Central Asian countries, and Uzbekistan and Kyrgyzstan have become new growth points in China's automobile exports.

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