News Flash丨China’s Vehicle Exports Surge 25.4% YoY in 2024

China Association of Automobile Manufacturers (CAAM) announced that China exported 553,000 vehicles in July, continuously showing a strong growth.

CAAM released the vehicle export results compiled by the customs data yesterday (September 5). The data also shows China vehicle export in the first seven months of 2024 maintains growth.

July Numbers

According to CAAM, in July 2024, China exported 553,000 vehicles, a month-over-month increase of 13.6%, and a year-over-year increase of 26.2%. The export value of July reached 9.98 billion USD, marking a month-over-month increase of 14.3%, and an increase of 13.8% compared to the same period last year.

January to July Numbers

Accumulatively, from January to July, China exported a total of 3.484 million vehicles, up 25.4% compared to the same period last year; as for the export value, China received a total of 65.15 billion USD, surging 18% compared to the same period last year.

This year, China has faced increased tariffs from the USA, Canada and the EU. In May, the USA started to impose 100% tariff on Chinese electric vehicles. In August, Canada followed the USA to impose 100% tariff on Chinese electric vehicles. China is still negotiating with the European Union on the higher tariffs on Chinese electric cars.

With four months left, we will monitor the latest data of China‘s vehicle exports.