EV Mechanica

Subscribe to EV Mechanica's Current Newsletter & never miss an update!

    Close Menu
      Facebook X (Twitter) Instagram
      EVMechanicaEVMechanica
      EVMechanicaEVMechanica
      • Home
      • News
        • E-Mobility
        • EV Battery
      • Charging Stations
      • Policy
      • Research
      • Interview
      • Jobs
      • Events
      • E-Mag
      • Subscription
      Facebook YouTube LinkedIn WhatsApp
      EVMechanicaEVMechanica
      Home » China’s Auto Exports to Slow, EV Growth Stagnates

      China’s Auto Exports to Slow, EV Growth Stagnates

      Rashmi VermaBy Rashmi VermaJanuary 10, 2025 E-Mobility 3 Mins Read
      China's Auto Exports to Slow, EV Growth Stagnates
      Share
      Facebook Twitter LinkedIn WhatsApp

      After dominating the export market for a second year in 2024, China’s auto exports are expected to decline significantly this year, with little growth anticipated for shipments of electric vehicles, according to an official from the auto association.

      Despite additional tariffs on Chinese-made electric vehicles that the European Union introduced in late October, China likely ranked as the world’s largest auto exporter for a second consecutive year in 2024, with car exports up 25% to 4.8 million units, according to data from the China Passenger Car Association (CPCA).

      The Japan Automobile Manufacturers Association reports that in the first 11 months of 2024, Japan’s auto exports decreased 4.3% to 3.82 million automobiles.

      However, according to CPCA secretary general Cui Dongshu, export growth is likely to slow to 10% this year, with a predicted decline in shipments to Russia adding to the pressure on European tariffs. EV exports are predicted to have “zero growth.” Last year, exports of new energy vehicles (NEVs), which include plug-in hybrids and electric automobiles, increased 24.3% to 1.29 million.

      According to the association, exports to the bloc were negatively impacted by a year-long subsidy investigation into Chinese-made EVs, with a 10% growth in the first few months falling far short of a 36% increase in 2023.

      According to CPCA, exports to Thailand, Australia, and the United Kingdom decreased during the first 11 months of 2024, while the top three markets for automobiles built in China were Russia, Mexico, and the United Arab Emirates.

      According to Charles Lester, research analyst at Rho Motion, setting up production facilities in Europe, like BYD’s in Hungary, will help China’s automakers increase their market share there over time, even though EU tariffs would temporarily restrict sales of Chinese EVs.

      Government subsidies of up to $2,000 for more fuel-efficient combustion engine vehicles and up to $2,800 for NEV sales helped to sell over 6.6 million cars last year. Official data shows that more than 60% of the subsidized purchases were for NEVs.

      According to the CPCA, NEV sales are forecast to increase by 20% this year, accounting for 57% of China’s total automobile sales, while overall car sales are predicted to climb by 2% this year.

      Over the years, China’s auto sector has suffered a decline in profitability despite the expansion in sales. In the first 11 months of 2024, sales profit margins were 4.4%. According to the association, that contrasts with 5.2% in 2023 and 6.2% in 2020.

      Australia Auto Exports automobiles China China Passenger Car Association Chinese EVs EV growth NEV sales Slow Stagnates thailand
      Share. Facebook Twitter LinkedIn WhatsApp
      Rashmi Verma

      More article from Rashmi Verma

      Keep Reading

      Kia Unveils Affordable EV4 Fastback With 380-Mile Range

      Tesla Set to Launch Model 3+ With 800km Range

      Honda Super EV Concept Debuts at Goodwood Festival

      Leave A Reply Cancel Reply

      twelve + 18 =

      E-MOBILITY

      Kia Unveils Affordable EV4 Fastback With 380-Mile Range

      July 18, 2025

      Tesla Set to Launch Model 3+ With 800km Range

      July 18, 2025

      Honda Super EV Concept Debuts at Goodwood Festival

      July 18, 2025

      Youdha EPOD EV Three-Wheeler Eyes ₹1,000 Crore by 2030

      July 18, 2025

      Articles

      Turn Land Into Revenue with EV Charging Station Franchises

      In 2025, electric vehicle (EV) industry in India is rapidly growing, with rising adoption of…

      EV Subsidies in India: Who Truly Benefits from the Green Push?

      India is advancing rapidly in electric mobility mainly due to strong government backing to EV…

      Delhi’s Fuel Ban Flip-Flop: A Policy Failure in Motion

      Introduction: A Capital Confusion Delhi government took a U-turn on its decision to implement the…

      © 2025 EVMechanica.com.
      • Home
      • About Us
      • Contact Us
      • Subscription

      Type above and press Enter to search. Press Esc to cancel.