China vehicle exports for this year are very impressive, as the exports are up by almost 26% from last year. By May 2024, the Chinese automobile industry shipped over 2.45 million vehicles. From the records, Russia has the most vehicle imports from China for the first five months of the year with over 372,542 imports.
In total, eight countries mainly fuel the impressive amount of exports that the Chinese automobile industry ships to. On the list are Russia, Mexico, Brazil, Belgium, UAE, the United Kingdom, Thailand, and the Philippines. Other countries that China shipped a significant amount of vehicles to within the first five months of the year are Australia, Spain, Israel, Thailand, and Ecuador.
These vehicle shipments from China consist of electric vehicles and plug-in hybrid vehicles. According to our sources, we are made to understand that the top importer of Chinese new energy vehicles over the first five months of 2024 is Brazil. The South American region received shipments of over 130,967 new electric vehicles from January through May.
These shipments (new electric vehicles) are solely shipments of EVs, PHEVs, and plugless hybrid vehicles. Brazil’s leading imports of Chinese new energy vehicles show that Russia’s imports from China were mainly gas-driven vehicles. While the region might have imported some electric vehicles, it didn’t make the top five importers of Chinese new energy vehicles.
With over 2.45 million Chinese vehicle exports in the first five months of 2024, the region boasts a 26% year-on-year growth. This is in comparison with the 5.221 million vehicles that China exported to other countries in 2023. At this rate, China might outperform its vehicle export performance last year.