China has So Far Exported 40% More Cars in 2022
China’s vehicle export volume has witnessed a remarkable surge with already sales already exceeded one million units, registering a massive 43% year-on-year growth. According to the General Administration of Customs of China, the export volume from January to May 2022 stood at 1.08 million units.
In May 2022 alone, 230,000 Chinese vehicles were exported to different parts of the world, which is a year-on-year increase of 35%. More specifically, China exported 43,000 new energy vehicles (NEVs) in May, a year-on-year increase of 130.5%, according to the China Association of Automotive Manufacturers (CAAM). From January to May, China exported a total of 174,000 NEVs, which is a year-on-year increase of 141.5%.
China Exported Over 2 Million Vehicles In 2021
Last year, Chinese vehicle export increased 100% year-on-year to a record 2.015 million units, making China the world’s third-largest vehicle exporter in 2021. This was also the first time that China’s car exports exceeded 2 million units. In previous years, China’s annual export volumes used to be around 1 million units.
According to data, passenger vehicle exports accounted for 1.614 million units, commercial vehicles for 402,000 units, while NEVs accounted for 310,000 units, according to CAAM. That year, Japan ranked first by exporting 3.82 million vehicles, followed by Germany with 2.3 million vehicles in 2021.
According to previous estimates, China’s annual vehicle export volume in 2022 will be close to 3 million. As China’s auto export volume continues to rise (despite supply chain issues) along with vehicle electrification accelerating in other parts of the world, it can seize this opportunity to overtake the known leaders in vehicle exports.