Chinese automobile exports grew at double- or triple-digit rates in the last five-year period ending in 2024.
These foreign sales rose from $8.633 billion in 2019 to $90.24 billion in 2024, according to data from the General Administration of Customs.
Chinese automobile exports
On a global scale, China ranks as the largest auto producer, the third largest auto exporter (surpassed by Germany and Japan) and a leader in electric vehicle (EV) manufacturing.
The auto parts company Magna International reports that several EV-focused OEMs have emerged in recent years, such as Tesla, BYD, Geely, Nio, SAIC, XPeng and Rivian.
Following is the trend of Chinese auto exports to the world, in millions of dollars and year-on-year growth rates:
- 2018: 8,627 (+20 percent).
- 2019: 8,633 (0 percent).
- 2020: 9,928 (+15 percent).
- 2021: 24,389 (+146 percent).
- 2022: 44,688 (+83 percent).
- 2023: 77,659 (+74 percent).
- 2024: 90,240 (+16 percent).
Automotive markets
Where are Chinese auto exports headed? First, to Russia, with shipments with a customs value of US$15.211 billion in 2024. Other relevant destinations were: Belgium (7,226 million), United Arab Emirates (4,755 million), United Kingdom (4,654 million) and Mexico (4,380 million).
China leads the global automotive production and market thanks to several key advantages. Its advanced industrial infrastructure allows it to manufacture cars in large volumes and at competitive costs. In addition, the government boosts the sector with subsidies and favorable policies, especially for EVs.
The country dominates the EV industry, with companies such as BYD and NIO growing and controlling battery production. Its huge domestic market drives demand, while global expansion strengthens its presence in Europe and Latin America.
China also benefits from lower production costs and leadership in batteries and semiconductors, consolidating its position as a global automotive powerhouse.
Despite significant tariffs and other protectionist difficulties, some China-based EV-focused OEMs, such as BYD and Geely, have entered the European market with vehicles exported from China, while both BYD and Chery have announced plans to manufacture EVs in European countries.