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China's Auto Exports Cruising in Top Gear

Export-bound vehicles await loading in Yantai Port

Export-bound vehicles await loading in Yantai Port, Shandong province, on Dec 14, 2023.

China's auto exports maintained fast growth momentum, with a year-on-year increase of more than 30 percent during the first two months of this year, data from the China Association of Automobile Manufacturers showed Monday.

Total auto exports amounted to 822,000 units during the January-February period, up 30.5 percent year-on-year. In breakdown, 686,000 passenger vehicles were exported, surging 31.5 percent year-on-year, while the exports of commercial vehicles rose 25.9 percent to 136,000 units.

China's new energy vehicle exports increased 7.5 percent to 182,000 units, while the exports of traditional fuels cars went up 39 percent to 640,000 units.

Among the top 10 automakers by vehicle exports, Chery took the crown with 169,000 units. While BYD reported the fastest growth rate, with 60,000 vehicles exported in the first two months, up 1.1 times on a yearly basis, followed by Great Wall Motors (91.9 percent) and Changan Auto (86.8 percent).

China's auto exports has extended its growth momentum so far this year, the association said, adding the country's automobile sector has gradually showed its strong competitiveness in the global market in terms of technical innovation, cost control, and market layout.

According to the Ministry of Industry and Information Technology, China's export of automobiles rose 57.9 percent to 4.91 million units in 2023, ranking No 1 worldwide for the first time.

China's auto product competitiveness improve continuously, with increasing demand from overseas markets, Xu Haidong, vice-chief engineer of the China Association of Automobile Manufacturers, told CCTV. With development of the international economic and trade situation, China's auto exports are expected to grow about 20 percent this year, Xu predicted.

Source: China Daily

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