China increased car exports by almost a third

In May 2024, 568 thousand cars produced in China went abroad, which is 29 percent more than in the same month of 2023. And the result of the past five months amounted to 2.45 million cars – an increase of 26 percent year-on-year. Russia remains the leader among importers of Chinese automotive products, receiving twice as many cars as the next countries in the ranking.

In May, 103.8 thousand Chinese cars were sent to Russia. In second place is Brazil with 53.2 thousand, in third place is Mexico with 42.2. Also in the top five are Belgium and the UAE, where they brought approximately 29 thousand Chinese cars each.

As for “new energy” vehicles (NEV) – electric cars and hybrids – Russia is not in the top 5. It includes Brazil, Belgium, Great Britain, Mexico and Thailand.

From January to May, Russia purchased 372.5 thousand Chinese cars, Mexico – 190.9 thousand, Brazil – 159.6 thousand, Belgium – 124 thousand, and the UAE – 114.5 thousand.

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The value of all cars exported from China in five months reached $46.4 billion. The average price of a car is 19 thousand dollars. It hasn’t changed since last year.

The export of Chinese electric cars and hybrids has grown significantly: in 2024, China managed to deliver about 870 thousand of such cars worldwide. However, new duties may reverse this trend: Europe, where battery-powered cars are popular, is raising tariffs on the import of Chinese electric cars to almost 40 percent. Similar measures are being taken in the United States and Turkey, and are also being considered in Canada.

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