China's auto exports to reach about 3 mln units in 2022

By： Belt and Road Portal Update：2022-11-24

China's auto exports are expected to approach three million units in 2022, Fu Bingfeng, president of China Association of Automobile Manufacturers (CAAM) said on Tuesday.

China's auto exports have been growing, bucking against the downward trend of global auto industry. In the first ten months, the country exported 2.456 million units of vehicles, up 54.1 percent year on year, Fu said at 2022 China Automotive Overseas Development Forum.

During the period, Mexico, Chile, Saudi Arabia, Belgium and Australia were the major auto export destinations of China.

Restoring overseas market demands, Chinese auto sector's complete industrial chain ensuring stable production, improved technologies and brand images, surging exports of China-made new energy vehicles, as well as shift of Chinese auto makers' overseas investment mode to direct investment are all contributors to the rapid increase in China's auto exports, according to Xu Haidong, deputy chief engineer of CAAM.

Xu estimated that in 2031, China's overseas auto production is likely to reach 10 million units, with the number of domestically produced vehicles for exports standing at five million units.