China's EV Exports Threatened by EU's New Tariffs

Thoug the EU's decision to impose 38.1% tariffs on Chinese EV imports, China's auto export data shows a robust increase, indicating sustained performance despite looming tariffs.

cpcaauto · 2024-06-13

The EU imposed higher tariffs on electric vehicles imported from China in an official declaration made on June 12th, 2024, late last night Beijing Time. The statement has it that, starting from 4 July 2024, the additional charges will as high as 38.1%.

The decision taken is actually one of local protectionism which would rather harm the European car industry much more than China’s exports of EVs, thereby serving as a roadblock to the global progress of electrification.

However, the latest data by China Passenger Car Association (CPCA) released on June 11 indicates that auto export is thriving in China.

General China Auto Export Data

Just day before yesterday, June 11th this year CPCA (china passenger car association) detailed china’s passenger cars export this May. Based on the China Customs data sample, China exported 569,000 units in May upped by 30% yoy amounting to $10.5bn, which was an increase of 17% on the corresponding month last year.

In May, the number of passenger cars exported stood at 3.78 million units representing an increase of 23% compared to same period last year.

Actually, the total export data show that China cars made export volume totaling 2.45 million units from January to May up by an impressive 27% yoy, while the transaction amount reached $46.4bn presenting an increase of 20% yoy.

In the first five months of the year, passenger cars made up about 18.7 million units shipped out from china showing a 34% growth as compared to last year’s figures.

Here is the list of the top 10 exporters:

BYD：37,499 units

Tesla China：17,358 units

Chery：7,198 units

SAIC：6,487 units

Great Wall：2,905 units

Neta Auto：2,764 units

Geely：2,501 units

Dongfeng Honda：2,492 units

SGMW：2,293 units

Xpeng：1,578 units

Regarding SAIC’s performance in EU market segments; it may be seen that come July when extra duties come into force, there could be some modifications to this effect. BYD is strong in Southeast Asia and South Africa auto market.

NEVs Export Data

Now let us consider NEVs export statistics. CPCA revealed that 94,000 NEVs were shipped overseas last month, while 78% of all new energy vehicle exports were pure electric cars.