China's vehicle exports in April reached 425,000 units, a year-on-year increase of 150%, maintaining its strong growth momentum, data from the China Association of Automobile Manufacturers (CAAM) showed. The exports value stood at USD8.31 billion, up 200%, CAAM said. It also reported that China's total exports of vehicles reached 1.49 million, representing a year-on-year increase of 76.3% over the first four months of 2023, with the total export value increasing by 100% over 2022 to reach USD29.68 billion. Sales of NEVs in China accounted for 60% of the world's total in the first four months of 2023, Cui Dongshu, Secretary General of the China Passenger Car Association (CPCA) said on his WeChat account, attributing the achievement to China's strong supply chain with domestic market sales and exports both ticking upwards.
Cui noted that total NEV sales worldwide from January to April in 2023 reached 3.54 million, a year-on-year increase of 38%. China's NEV sales in the same period topped 2.11 million, surpassing both Europe and North America. China remains the world's largest NEV market, with domestic and overseas carmakers continuing to strengthen local production capacity, which also contributes to the expansion of local supply chains, Automobile Sector Analyst Wu Shuocheng told the Global Times. During his recent visit to China, Tesla CEO Elon Musk commended the vitality and potential of China's NEV development, showing confidence in the Chinese market and willingness to continuously deepen mutually beneficial cooperation. In May, Tesla sold 77,695 vehicles in the Chinese mainland, according to newly released CPCA data.
In April, the industrial added value of the automobile manufacturing sector increased by 44.6% year-on-year, official data from the National Bureau of Statistics (NBS) showed. The NBS data also revealed that the retail sales of consumer goods in the automotive category reached CNY1.41 trillion, up 5.4% year-on-year and accounting for 9.42% of the total retail sales for consumer goods. The sales of China's NVEs showed consumption remains buoyant despite overall retail sales facing some pressures amid the transition from gasoline-powered vehicles to battery-powered electric vehicles, Wu said. China's auto exports have shown three major characteristics, including a gradual expansion in scale, a more diverse market, and NEV exports growing strongly, according to the Ministry of Commerce's spokesperson, as reported by the Global Times.
