China’s vehicle exports are expected to grow 5.8 per cent to 6.2 million units this year, cooling from a 19.3pc increase in 2024, data from the China Association of Automobile Manufacturers (CAAM) showed yesterday.
A slowdown in estimated exports contrasts with a slight uptick forecast for vehicle sales in China this year, as extended policy incentives are expected to bolster sales in the world’s largest auto market.
The association did not give a breakdown of export estimates by engine types, but said exports of electric vehicles fell 10.4pc last year while plug-in hybrid exports were up 190pc.
That compares with an 80.9pc rise in EV exports in 2023 at a time when plug-in hybrid exports grew 47.8pc and points to the impact of additional tariffs on China-made EVs introduced by the European Union in late October.
China has told its automakers to halt big investment in European countries that support extra tariffs on Chinese-built EVs, Reuters reported in October. Meanwhile, automakers in China are pivoting to hybrid exports for Europe to counter additional EV tariffs.
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