China has exported 436,000 vehicles in August 2023, surpassing the last year’s result by 39%. The annual shipped volume has reached 3.22 million units so far, a 65% growth year on year, CarNewsChina reports.
In 2013 through 2016, China had exported between 0.76 million and 0.95 million cars every year. The year 2017 saw the country exceed 1 million vehicles in exports for the first time on record. It then proceeded to rise to 1.24 million in 2019 only to plummet back to 1.08 million in the following year due to the Covid-19. In 2021, though, the market rebounded and grew by 103% (to 2.19 million units). 2022 saw that trend continue with 3.4 million units exported and a YoY growth of 55%.
Average export vehicle costs are also on the rise, going up from roughly $18,000 to $20,000 over the past year alone. In monetary terms, China has earned 85% from its exports in January-August 2023 compared to the same period of 2022.
Russia headed the rating of countries importing Chinese cars with a confident lead and a share of 16.9%. The country took delivery of 544,000 vehicles in January-August 2023, a whopping 664% more than the year before. Mexico followed it as a distant second (257,000 units, 8% overall share), trailed by Belgium (155,000, 4.8%), Australia (154,000, 4.8%) and Saudi Arabia (134,000, 4.2%). Over 100,000 vehicles each has been exported to Great Britain, Thailand and the Philippines.