More Than 308,000 Vehicles Exported from China in August 2022

As the global acceptance of Chinese cars is rapidly on the rise, the export of these vehicles from China is also increasing massively. According to China Association of Automotive Manufacturers (CAAM) some 308,000 unites were exported to various parts of the world in August 2022, registering a year-on-year increase of 65% and a month-on-month increase of 6.2%.

Related: China has So Far Exported 40% More Cars in 2022

This is also the first time in history that the export of Chinese vehicles have surpassed 300,000 units in a month. Furthermore, from January to August 2022, China has exported a total of 1.817 million vehicles, which is a year-on-year increase of 52.8%.

Chinese vehicle export trend in 2020 (gray), 2021 (blue), 2022 (orange) | Unit: ten thousand | Source: CAAM

According to Cui Dongshu, the Secretary General of the China Passenger Car Association (CPCA), the stellar export performance is due to China’s auto industry remaining resilient to continue to manufacture vehicles reliably while experiencing a global pandemic and supply chain challenges.

Related: EVs Accelerate China’s Looming Dominance as a Car Exporter

Dissecting deep into the data, China exported 83,000 new energy vehicles (NEVs) in August, a month-on-month increase of 53.6% and a year-on-year increase of 82.3%. From January to August 2022, China exported a total of 340,000 NEVs, which is a year-on-year increase of 97.4%.

Chinese NEV export trend in 2021 (blue) & 2022 (orange), and 2022 growth rate (gray) | Unit: ten thousand | Source: CAAM

Countries around the world are actively introducing policies to promote the use of NEVs, providing a golden opportunity for Chinese new energy vehicles to go overseas. It is estimated that the overseas sales of Chinese cars are expected to reach 3 million units in 2025 and 5.5 million units in 2030.

Related: Chinese Vehicle Exports Reach Record High in 2021

Moreover, the overseas sales of Chinese electric vehicles in 2030 are expected to reach 2.5 million units, according to CITIC Securities, the largest securities agency in China, with businesses covering investment banking, brokerage, securities trading, and asset management.

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