China’s vehicle exports rise 22.8% in 2024
China’s vehicle exports saw a significant surge in 2024, registering a rise of 22.8% and exceeding expectations. This impressive growth is attributed to the country’s robust production capacity, increased demand from foreign markets, and improvements in transportation infrastructure.
The data released by the China Association of Automobile Manufacturers (CAAM) showed that in 2024, China exported 3.36 million vehicles, with the total value reaching $34.6 billion. This outsells the initial estimate of 2.75 million vehicles and indicates a strong growth in China’s automotive industry.
The bulk of exports went to the Association of Southeast Asian Nations (ASEAN), which accounted for 45.1% of the total exports. Southeast Asia is a significant market for Chinese automakers, with popular brands such as Geely, BYD, and Great Wall Motor leading the charge.
In addition to ASEAN, China also saw a significant surge in exports to other regions, including Europe, North America, and Latin America. The growth was driven by factors such as the country’s robust auto production capacity, which reached 22.8 million units in 2024, as well as the Chinese government’s policies aimed at promoting exports and promoting the development of the automotive sector.
The growth in vehicle exports is expected to continue in 2025, driven by an increasingly competitive global market and improving transportation infrastructure. This is likely to benefit Chinese automakers, which are expected to continue to capture a significant share of the global market. As the world’s largest automaker and the country with the largest population, China is set to play a significant role in shaping the global automotive landscape in the future.