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Chinese Automobile Exports Set Record in August – RaillyNews

by Oct 22, 2022Blog0 comments

China’s automobile exports in August exceeded 300 thousand, breaking a new record. According to the data of the China Automobile Manufacturers Association, 65 thousand cars were exported in August, an increase of 308 percent compared to the same period of the previous year. In the first eight months of the year, automobile exports reached 52,8 million 1 thousand with an increase of 817 percent on an annual basis.
The striking performance of new energy vehicle exports drew attention. In August, new energy vehicle exports showed a rapid growth trend, reaching 82,3 thousand units with an increase of 83 percent compared to the same period of the previous year. New energy vehicle exports increased by 97,4 percent in the first eight months, reaching 340 units. The contribution rate of new energy vehicle exports to the country’s total automobile exports was recorded as 26,7 percent.
Li Fei, Vice Minister of Commerce of China, made an assessment on the subject, “In recent years, China’s automotive industry, especially the new energy vehicle sector, has been developing rapidly and its international competitiveness has also increased. In the first seven months of the year, new energy vehicle exports increased by more than 90 percent on an annual basis, forming one of the bright spots of foreign trade. Relevant units will increase incentive measures to accelerate the entry of new energy vehicle manufacturers into foreign markets.
In addition, 10 fully electric vehicles manufactured by the Chinese company recently left the Haitong Pier in Shanghai for export to European countries. Vehicles produced by Chinese SAIC Motor for global markets are expected to be sold to more than 80 countries.
The annual production capacity of Tesla’s factory in Shanghai has exceeded 750 thousand units. At the facility, which is Tesla’s first factory outside the USA and called the Gigafactory, approximately 300 thousand cars were produced in the first half of the year, while exports from the factory doubled with the same period of the previous year, with 97 thousand 192 units.
The fact that the 1 millionth vehicle produced at the Tesla Shanghai factory came off the production line in August is a turning point for the company. So far, the decentralization rate of the industrial chain at the Tesla Shanghai factory has exceeded 95 percent.
China’s automobile manufacturing level attracts more and more foreign enterprises every day. Apart from Tesla, joint-capital automobile companies such as BMW Brilliance, Peugeot Citroen, SAIC-GM and Volvo also sell their vehicles produced in China to different countries.
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