Cui Dongshu: China's auto exports reached 570,000 units in December 2024, with improvements in both year-on-year and month-on-month trends.

The Secretary-General of the China Association of Automobile Manufacturers, Cui Dongshu, stated that in December 2024, China's automobile exports reached 570,000 units, a 25% increase compared to December 2023 and a 5% increase from the previous month. The annual export of Chinese automobiles in 2024 reached 6.41 million units, with a growth rate of 23%. In December 2024, the export volume of new energy vehicles reached 150,000 units, a 7% increase year-on-year and a 12% increase from the previous month. The total export volume of new energy vehicles in 2024 reached 2.01 million units, a 12% increase year-on-year. In 2024, the export of conventional fuel vehicles from China reached 4.4 million units, an increase of 26%, with fuel vehicles exported in December reaching 420,000 units, a 31% increase. The export of pure electric vehicles from China in 2024 reached 1.7 million units, a 6% increase, with 120,000 units exported in December, a 4% increase, showing a significant slowdown in export growth compared to 2023. The export of plug-in hybrid vehicles from China reached 320,000 units in 2024, a 128% increase, with 32,000 units exported in December, a 59% increase. The top 10 countries for China's automobile exports in December 2024 were Russia (97,998 units), the UAE (38,663 units), Saudi Arabia (33,337 units), Mexico (22,775 units), Belgium (22,371 units), Australia (15,361 units), Kazakhstan (14,975 units), the Philippines (14,331 units), the UK (14,003 units), and Belarus (13,804 units). The top five countries in terms of export volume growth in December were Russia (29,692 units), Saudi Arabia (16,493 units), the UAE (16,380 units), Belgium (6,893 units), and Belarus (5,265 units). Russia saw a significant decrease of 5,000 units compared to November. The top 10 countries for total vehicle exports from China in 2024 were Russia (1,157,988 units), Mexico (445,006 units), the UAE (330,569 units), Belgium (280,011 units), Saudi Arabia (275,779 units), Brazil (236,789 units), the UK (194,781 units), Australia (178,078 units), the Philippines (169,179 units), and Turkey (134,334 units). The top five countries in terms of export volume growth were Russia (248,939 units), the UAE (170,572 units), Brazil (121,984 units), Belgium (62,640 units), and Saudi Arabia (62,213 units). The top 5 countries accounted for 56% of the export volume increase, with Russia contributing significantly. It is expected that the overall growth rate of automobile exports in 2025 will reach 10%, reaching 7 million units. Pure electric vehicle exports will see zero growth, while gasoline vehicle exports will increase by 9% and plug-in hybrid exports by 70%. The China Association of Automobile Manufacturers estimates that passenger car exports will reach 5.3 million units, a 10% increase. With the slowdown of electrification in Europe and the US and the withdrawal of new energy subsidies in the US, there will be great pressure on electric vehicle exports in 2025, with a potential zero growth rate. The trend of decline in 2024 is expected to continue into 2025. The unfavorable external environment, inflation pressure, weak global economic growth momentum, and rapid strengthening of trade barriers will continue to impact the automotive industry. Many countries are expected to adopt stricter tariff policies, especially in terms of trade protection for the strategic electric vehicle industry. In December 2024, the top 10 countries for the export of vehicles from Shanxi Guoxin Energy Corporation were Belgium (21,446 units), Thailand (11,260 units), the UAE (9,584 units), the Philippines (8,756 units), the UK (7,425 units), Australia (6,415 units), Uzbekistan (6,410 units), the Netherlands (5,463 units), Spain (5,315 units), and India (5,166 units). The top five countries with the greatest export volume growth in December compared to December 2023 were Belgium (9,240 units), the UAE (4,809 units), Turkey (4,101 units), the Netherlands (3,807 units), and India (3,083 units). The top 10 countries for the total export volume of new energy vehicles in 2024 were Belgium (263,743 units), Brazil (152,204 units), the UK (119,436 units), Thailand (117,165 units), the Philippines (114,457 units), Mexico (80,552 units), India (77,940 units), the UAE (76,822 units), Australia (75,374 units), and Israel (65,373 units). The top five countries in terms of export volume growth were Brazil (84,016 units), Belgium (65,713 units), Mexico (63,499 units), the UAE (40,372 units), and Indonesia (39,762 units), with these countries contributing to 106% of the export volume increase, with Brazil making a significant contribution. The driving forces behind export growth include favorable weather conditions, high quality, hardworking people, and geopolitical changes. Firstly, favorable weather conditions refer to the strong resilience of the Chinese automobile industry chain and the trade policy support for exports from the country. Secondly, high quality refers to the increasing contribution of new energy exports, with advanced new energy technology and smart advantages becoming more prominent. Thirdly, the efforts of hardworking people, especially Chinese domestic brand enterprises, have made great efforts to improve product quality and control costs. Lastly, geopolitical changes refer to the diversified development of Chinese exports. The export of vehicles from Shanxi Guoxin Energy Corporation to developed countries has shown high-quality development, mainly focusing on exporting to Western Europe and Southeast Asia markets. In the past two years, Western European and Southern European countries such as Belgium, Spain, Slovenia, and the UK have continued to be export highlights, with a slight decline in December and stronger export performance to countries in the Americas such as Brazil. Domestic brands such as SAIC passenger vehicles and BYD Company Limited's new energy models have shown strong resilience. Although the export of new energy vehicles to Europe slowed down in December 2024, it is expected to recover as Europe adjusts to the impact of reduced subsidies. It is expected that the overall automobile export volume in 2025 will increase by 10%, reaching 7 million units. Pure electric vehicle exports will see zero growth, gasoline vehicle exports will increase by 9%, and plug-in hybrid exports will increase by 70%. The China Association of Automobile Manufacturers estimates that passenger car exports will reach 5.3 million units, a 10% increase. With the slowdown of electrification in Europe and the US and the withdrawal of new energy subsidies in the US, there will be great pressure on electric vehicle exports in 2025, potentially leading to zero growth. The downward trend seen in 2024, which continued in the fourth quarter, is expected to worsen in 2025. The adverse effects of external environmental changes, inflation pressure relief, weak global economic growth momentum, and rapid strengthening of trade barriers, especially due to Trump's strong tariff policies, will be more pronounced. Many countries are expected to adopt stricter tariff policies, especially targeting the strategic electric vehicle industry.The export of gasoline vehicles is still the main force. In 2024, Russia's gasoline vehicle market made a huge contribution, but there was a temporary negative growth in November. If the Russia-Ukraine crisis stops in 2025, the pressure on Chinese car companies will increase significantly. The Chinese domestic market for conventional gasoline vehicles is shrinking rapidly, which also has an impact on the sustainable development of exported gasoline vehicles. Especially since China basically has no A0 and A00 level gasoline vehicles, there is a disconnect between the export market and the domestic market. The explosive growth of plug-in hybrids in the Chinese domestic market has already contributed to the growth of overseas markets, but the scale is still very small. Currently, the overseas market for extended-range vehicles looks very bad, especially for high-end extended-range vehicles with high prices. The performance of mid-to-low-priced plug-in hybrids is good.The plug-in hybrid market faces the opportunity of a return of fuel vehicles, as plug-in hybrids, conventional hybrids, and fuel vehicles can all be used without relying on charging infrastructure, with plug-in hybrids standing out for their fuel efficiency and intelligence. By 2024, demand for plug-in hybrids in the former Soviet region is growing rapidly, while demand for Chinese plug-in hybrid models in the European Union region is sharply decreasing. Demand in Brazil has weakened recently. I. Overall Trend of Chinese Automobile Exports 1. Annual Trends in Automobile Exports Chinese automobile exports finally broke through the million-unit level platform period in 2021. After a sharp decline from 2013 to 2016 due to the global economic downturn, export growth stabilized and improved from 2017 to 2020, maintaining annual export volumes at around 1 million units. In 2020, exports reached 1.08 million units, a 13% year-on-year decrease, followed by a period of high growth. Due to the impact of the global pandemic and the domestic production of Tesla, Chinese automobile exports achieved a tremendous increase in sales volume and unit price from 2021 to 2023. In 2023, Chinese automobile exports reached 5.22 million units, with a continuous strong growth rate of 57%. In 2024, Chinese automobile exports reached 6.41 million units, a 23% year-on-year increase. In the near term, as long as there is a stable market environment internationally, the development of Chinese automobile exports still has enormous potential. In 2020, total export volume reached 1.085 million units, a 13.1% year-on-year decrease. The export market volume in 2021 was 2.187 million units, representing a 102% increase year-on-year. The export market volume in 2022 was 3.4 million units, an increase of 55% year-on-year, mainly due to insufficient overseas supply and significantly enhanced export competitiveness of Chinese automakers. In 2023, Chinese automobile exports reached 5.22 million units, with a sustained strong growth rate of 54%. The performance was exceptional, and compared to the gradual recovery of domestic car sales, the export market performance remained strong. In the last two years, Chinese exports saw significant growth amidst the global pandemic and the Russia-Ukraine crisis. In December 2024, Chinese automobile exports reached 570,000 units, a 25% increase year-on-year from December 2023, and a 5% increase from the previous month. The year-end total for Chinese automobile exports reached 6.41 million units in 2024, with a 23% growth rate. The main driving force this year remains the increased competitiveness of Chinese products and the slight growth in markets of southern countries globally, as well as the comprehensive replacement of international brands in the Russian market due to the enhanced export competitiveness of Chinese fuel vehicles. 2. Monthly Trends in Automobile Exports From a monthly trend perspective, exports in recent years still show seasonal characteristics, with a peak in summer and contrasting trends compared to domestic markets. The automotive market saw a strong start in 2022, but exports declined month-on-month from February to April due to the impact of the Shanghai pandemic, followed by a continuous increase from May to December. In 2023, exports continued to be strong, maintaining the sales volumes from the fourth quarter of 2022, reflecting a significant increase in the global competitiveness of the Chinese automotive industry. In 2024, the overall trend of Chinese automobile exports for the whole year was in line with the gradual strengthening trend of previous years. The growth rate in the first quarter was slower compared to the super high growth rates of the previous three years, with an increase in growth rate from April to May, a weaker performance in June, and a recovery in July, followed by a very strong performance in August, a slowdown from September to November, and a significant improvement in December. Exports in January and February of this year only increased by 20%, while exports from March to May increased by over 30%. Car exports in the third quarter showed strength under complex external conditions. The trend was unusually low in October and November, showing a significant improvement in December compared to the previous years. 3. Structural Characteristics of Automobile Export Before 2020, Chinese automobile exports remained at the million-unit level. In 2021, the export of complete vehicles (including chassis) reached 2.19 million units, with a 102% growth rate, showing good performance. The strong performers in exports in 2021-2022 were four-wheel drive SUVs and other passenger cars. In 2023, automobile exports saw overall strength, with a focus on fuel vehicles and passenger cars as the main exports, with a growth rate of 65%. Exports of four-wheel drive SUVs and compact cars were strong. This year, customs truck exports increased by 17%, with export performance of various types of trucks showing divergence, with good performance in light-duty trucks and medium-heavy trucks. In terms of structure, the proportion of passenger car exports continued to increase, while the proportion of trucks and buses decreased significantly. The performance of several key types of passenger cars was relatively balanced, with exports of unnamed passenger cars showing a decrease. In December 2024, the proportion of buses with fewer than 9 seats reached the highest at 33%, reaching 38% in December; exports of unnamed passenger cars in December reached the third position in passenger car exports, with a significant year-on-year decrease. Truck performance was relatively stable in December, with good growth in light-duty trucks and a decline in heavy-duty truck exports. In the passenger car category, large and medium-sized buses experienced a recovery, while exports of light-duty buses were slightly weaker. 4. Characteristics of Export Power Structure The export growth rate of passenger cars in 2024 rebounded, with better growth trends in the third quarter than in the first half of the year, followed by a decline in the fourth quarter. In December 2024, pure electric passenger cars accounted for only 3% of exports, while plug-in hybrids and hybrid vehicles showed strength. The export of hybrid passenger cars was strong this year, surpassing the growth rate of plug-in hybrids. Exports of trucks and buses have been slow this year, but diesel trucks and gasoline light buses have shown strong trends, reflecting a shift in growth momentum. In December, the proportion of pure electric passenger cars significantly decreased, with strong exports of gasoline passenger cars and gasoline buses, resulting in a drop of 6 percentage points in the share of pure electric passenger cars compared to the annual average. II. Market Structure of Automobile Exports 1. Characteristics of Exporting Manufacturer Regions Recently, Shanghai's position as the leading region for automobile exports in China has been replaced by Anhui, although the significant importance of Shanghai's car exports to China remains evident. In 2023, Shanghai exported 950,000 vehicles, with passenger cars accounting for 855,000 units. This is mainly due to the relatively excellent performance of local enterprises in Shanghai, especially SAIC passenger cars and Tesla, both of which have relatively strong export volumes, with SAIC General Motors showing stable export performance. However, recent exports from Shanghai have been abnormally low, with a 9% decrease to 800,000 units for the full year in 2024, and a 5% decrease in December. Anhui's export performance has been relatively strong, mainly due to the strong export performance of Chery and JAC. Shaanxi, Hebei, and Jiangsu have seen a significant increase in their contributions to automobile exports. 2. Analysis of Regional Trends in Exports In 2024, the export of pure electric vehicles to Oceania, Europe, and North America showed a significant slowdown, but pure electric vehicle exports to other regions remained strong. EU policies have contributed to the decrease in exports to Shanxi.The export volume of Guoxin Energy Corporation has decreased slightly, but the EU plug-in hybrid market showed strong growth in December. Currently, the growth in December is the result of tapping into markets in Africa, the Middle East, and the former Soviet Union.From the perspective of sales, the export trend from 2017 to 2022 is gradually recovering, mainly due to contributions from Europe. The Russian market shows a huge increase after 2022, becoming a core increment. In 2024, the proportion of the EU decreases, while exports to Central and South America and the United States and Canada show some growth. The export of new energy vehicles to Japan and South Korea in December dropped to 26%. Recently, the market share in developed markets in Europe and North America has decreased, and the performance in developed countries' markets has declined. The export performance of new energy vehicles in South America shows large fluctuations. The export demand in impoverished and underdeveloped regions is unstable, but is expected to gradually recover in the future. 3. Analysis of trends in vehicle exports by country In 2021, the average export price was $16,000, rising to $18,000 in 2022, reaching $19,000 in 2023, and remaining at $18,000 this year, almost the same as last year's average price. Due to significant changes in the Russian market in the previous period, with other foreign investments withdrawing, China has increased its exports to Russia since 2023, and Chinese car companies continue to perform strongly in the Russian market in 2024. Last year, there were more exports to Belgium compared to other countries. In the second quarter of this year, Europe's economy faltered, resulting in average export performance. Chile, Peru, and other car markets experienced sharp declines in 2023 but have shown some recovery this year, with Brazil showing significant fluctuations. Asia remains a major market for Saudi Arabia and Bangladesh. The recent performance of the Mexican market has been strong, unaffected by tariffs from Europe and the United States. 4. Trends in monthly increases and decreases in vehicle exports In December 2024, the top 10 countries for Chinese car exports were: Russia with 97,998 units, the United Arab Emirates with 38,663 units, Saudi Arabia with 33,337 units, Mexico with 22,775 units, Belgium with 22,371 units, Australia with 15,361 units, Kazakhstan with 14,975 units, the Philippines with 14,331 units, the United Kingdom with 14,003 units, and Belarus with 13,804 units. The top five countries for the increase in Chinese car exports in December were: Russia with 29,692 units, Saudi Arabia with 16,493 units, the United Arab Emirates with 16,380 units, Belgium with 6,893 units, and Belarus with 5,265 units. Russia's decrease from November to December 2024 was significant, at 10,000 units. In 2024, the top 10 countries for total annual car exports were: Russia with 1,157,988 units, Mexico with 445,006 units, the United Arab Emirates with 330,569 units, Belgium with 280,011 units, Saudi Arabia with 275,779 units, Brazil with 236,789 units, the United Kingdom with 194,781 units, Australia with 178,078 units, the Philippines with 169,179 units, and Turkey with 134,334 units. The top five countries for the increase in Chinese car exports for the entire year were: Russia with 248,939 units, the United Arab Emirates with 170,572 units, Brazil with 121,984 units, Belgium with 62,640 units, and Saudi Arabia with 62,213 units. The top 5 countries accounted for 56% of the total increase, with Russia making a significant contribution to exports. In 2024, market declines were significant in Thailand, Australia, the UK, and other markets. In December, Mexico, Brazil, and the UK performed relatively poorly, while Russia and the Middle East became core markets for growth. 5. Analysis of changes in key export countries over the years In the early stages, the effectiveness of overseas bases for car exports was not ideal, with significant fluctuations in countries such as Saudi Arabia, Bangladesh, Egypt, and Chile in 2020. In 2022, major car export markets were Mexico, Saudi Arabia, Chile, Belgium, Australia, the Philippines, and Russia, with many exports to less developed countries. In 2023, major car export markets were Russia, Mexico, Belgium, Australia, Saudi Arabia, and the UK, with a stronger trend in the European and American markets. Recently, relatively developed countries like Australia, Belgium, and the UK have shown improvement. In December 2024, there were changes in the car export structure, with Russia still leading, a significant decrease in exports to Mexico, and an increase in exports to the UAE and Saudi Arabia. Export to Australia has recovered, while export to Brazil has dropped significantly. 6. Analysis of changes in exports to Russia In 2022, China exported 160,000 vehicles to Russia, with 910,000 vehicles exported in 2023, an increase of 459% year-on-year. In 2024, China exported a total of 1.16 million vehicles to Russia, a 27% increase year-on-year. Since 2023, Russia has suddenly become the largest market for Chinese car exports, marking a significant change in Chinese car exports after 15 years. In 2008, Chinese domestic brands performed well in the Russian market, but with Russia imposing hefty tariffs on Chinese cars, many Chinese car companies withdrew from the Russian market that year. Recently, as other countries' car companies exited Russia, Chinese car companies quickly ensured the supply of vehicles to Russia in 2023. Currently, Chinese car companies should be safe in the Russian market, but careful observation is still needed regarding the changing situation due to the crisis between Russia and Ukraine. In 2024, there were significant fluctuations in the export of new energy vehicles from China to Russia, with import regulations in Russia constantly adjusting according to supply and demand. After a sharp increase and subsequent decline in the export of tractor trucks and heavy trucks from China, the recent export volume of passenger cars has increased. III. Trends in the export of new energy vehicles 1. Characteristics of the export of new energy vehicles over the years As China's domestic new energy vehicle market shifts from subsidy-driven to market-driven, the market competitiveness of Chinese new energy vehicles has significantly increased. The export of Chinese new energy vehicles experienced explosive growth starting from 2021 and has since entered a sustained period of high growth. Although disrupted by EU policies on the export of new energy vehicles this year, the total export of Chinese new energy vehicles reached 2.01 million units in 2024, a 12% year-on-year increase. In December 2024, the export volume of new energy vehicles reached 150,000 units, a 7% year-on-year increase and a 12% increase from the previous month. The total export volume of new energy vehicles in 2024 reached 2.01 million units, a 12% year-on-year increase. Since June, the export trend of new energy vehicles has been sluggish, with significant market pressures. November witnessed an abnormal negative growth, indicating that overseas sales of new energy vehicles are not progressing rapidly. 2. Characteristics of the export structure of new energy vehicles Before 2019, the export volume of new energy vehicles was relatively high, but the quality was unstable.The basic use of vehicles is mainly micro low-speed electric cars, and the actual number of mainstream new energy vehicle models is not large.The export structure and quantity of new energy passenger vehicles have improved. The export performance of new energy vehicles was good from 2020 to 2022, with a total export of 1.73 million new energy vehicles in 2023. In December 2024, 150,000 new energy vehicles were exported, an increase of 12% compared to the previous year. The total export of new energy vehicles for the whole year was 2.01 million, a 16% increase compared to the previous year. The total export of new energy passenger vehicles in 2024 was 1.95 million, a 16% increase compared to the previous year, accounting for 97% of the total new energy vehicle exports. Recently, the export of new energy buses and special vehicles has slightly recovered, with a drastic slowdown in the export growth rate of new energy buses to 12,000 units for the whole year, a 15% increase compared to the previous year. 3. Analysis of Changes in New Energy Export Regions With Tesla entering China, the export pattern of Chinese automobiles has changed. Shanghai was the leader for a long time, but its exports drastically shrank due to temporary hindrances from the European Union. In 2024, the regions with strong exports of new energy vehicles were Guangdong, Shanghai, Jiangsu, Zhejiang, and Shanxi. Looking at the current export volume, in 2024, Shaanxi and Anhui saw relatively large increases in export volume, but some regions had slightly lower exports in December. 4. Characteristics of New Energy Passenger Vehicle Export Countries in Previous Years In 2022, the export of new energy vehicles increased by 90% compared to the previous year. The main markets for new energy vehicle exports are Europe and Asia. In 2023, Shanxi Guoxin Energy Corporation exported 1.73 million passenger vehicles, achieving a strong growth of 55%. The total export of new energy vehicles in 2024 was 2.01 million, a 26% increase, and the performance in December was relatively good. However, in 2024, the export unit price of new energy vehicles decreased significantly. 5. Analysis of Changes in Export of New Energy Passenger Vehicles in 2024 In 2024, the top 10 countries in terms of export volume of Shanxi Guoxin Energy Corporation's vehicles in December were Belgium (21,446 units), Thailand (11,260 units), UAE (9,584 units), the Philippines (8,756 units), the UK (7,425 units), Australia (6,415 units), Uzbekistan (6,410 units), the Netherlands (5,463 units), Spain (5,315 units), and India (5,166 units). The top five countries in terms of increased export volume in December compared to December 2023 were Belgium (9,240 units), UAE (4,809 units), Turkey (4,101 units), the Netherlands (3,807 units), and India (3,083 units). The top 10 countries in terms of total export volume for the whole year in 2024 we... 7. Analysis of Changes in Export of Pure Electric Vehicles in 2024 In 2024, the total export of pure electric vehicles in China was 1.7 million for the whole year, a 6% increase, with 120,000 units exported in December, a 4% increase compared to the previous year, indicating a significant slowdown in export growth compared to 2023. In 2022, the EU accounted for 46% of the Shanxi Guoxin Energy Corporation's vehicle exports, but recently the export percentage to Europe has decreased, while exports to South America and Southeast Asia have shown continued strength. IV. Trends in Passenger Car Export by Category 1. Export by Engine Displacement Passenger cars exported are primarily in the 1 to 1.5-liter engine displacement range, which is a comprehensive advantage of China's domestic passenger cars. Recently, there has been rapid growth in the export of 1.5-2 liter models, indicating a higher demand in countries like Russia for China's high-end and higher-priced SUV models. The product differentiation of electric vehicle models is evident, with a significant improvement in the export of high-end electric vehicles, while entry-level plug-in hybrids have shown good export growth. 2. Structural Characteristics of Passenger Car Export For Chinese fuel-driven passenger cars, the markets that performed strongly in 2024 were Russia, Saudi Arabia, the UAE, and the former Soviet Union. The major declining markets in 2024 were Mexico, Uzbekistan, Ecuador, and Australia. For Chinese pure electric passenger cars, the main growth markets in 2024 were Belgium, Indonesia, Brazil, and the UAE; while the declining markets were Thailand, Spain, the Netherlands, and France. The major increase in exports of plug-in hybrids in 2024 was seen in markets such as Brazil, Mexico, and Central Asia; while the declining markets were Belgium, France, and Japan. V. Trends in Truck Export by Category 1. Truck Export The growth rate of the truck market has not been strong in recent years, with a continuous slight contraction in market share in the export market for trucks. The main markets for trucks are the strong demand for gasoline and diesel trucks below 5 tons, while there is also strong demand for diesel heavy-duty trucks of over 20 tons. 2. Characteristics of Truck Export Market Changes The top few countries for truck exports were, in 2024.Overall performance is stable. The main export markets in 2024, such as Russia, Mexico, and Vietnam, are performing well. Truck exports have declined in markets such as Russia, the UK, and Australia. Mexico and Saudi markets have shown strong recent growth.In 2024, the export market performance of new energy pure electric trucks is stable, with significant exports to Mexico, South Korea, Thailand, but not mainstream products overall. The export market performance of new energy trucks to Europe is relatively poor, currently showing a continuous decline. VI. Trends in Export of Passenger Cars by Category 1. Overall Export of Passenger Cars Recently, global passenger car demand has decreased, leading to continuous shrinkage of Chinese passenger car exports in the past two years, from 64,000 units in 2019 to 37,000 units in 2021. Global demand has recovered since 2023, with Chinese passenger car exports increasing to 71,000 units in 2023. In 2024, the full-year total reached 82,000 units, a 16% increase. In 2024, the export growth of pure electric passenger cars by 14% is good, while gasoline passenger car exports have increased significantly, but diesel passenger car exports have shrunk. 2. Characteristics of Changes in Passenger Car Export Markets Chinese passenger car exports are mainly distributed in relatively underdeveloped countries, making the market complex and difficult to sustain orderly exports. This year, there is significant demand in the Middle East, Vietnam, Central Asia, and Southeast Asian countries, with strong demand for passenger cars in countries like Saudi Arabia, Peru, and Vietnam. The market with export growth this year includes markets like Saudi Arabia, Egypt, and Vietnam, while developing countries such as Ecuador, Central Asia, Bolivia, and South Africa have experienced significant declines. The new energy passenger car export market is relatively small and data fluctuates significantly. This year, regions such as Thailand and Chile have performed poorly, while Nepal and Vietnam have strong export demand for passenger cars. Overseas demand for electrication of Chinese passenger cars is not very high.