SMM

Dongshu Cui, secretary-general of the CPCA, said in a WeChat article that China's automobile exports volume was 526,000 units in October 2023, with a sustained strong growth rate of 47%. From January to October 2023, China's automobile export volume was 4.24 million units, with a sustained strong growth rate of 58%. The export market was still robust while the domestic automotive sales was gradually recovering. The main driver of this year was still the increasing competitiveness of Chinese products, the breakthrough of the European and American markets, and the fact that Russian brand was fully replaced by Chinese cars under the Russian-Ukrainian crisis. In particular, the enhancement of China's new energy vehicle competitiveness brought a huge export increment.