Automobile exports in China jump 33.2 percent YoY in Q1
Date
4/21/2024 8:43:07 AM
(MENAFN) Industry data shows that China saw a considerable surge in automobile exports in the first quarter (Q1) of 2024, with a remarkable increase of 33.2 percent in comparison to the same period in 2023. Based on statistics provided by the China Association of Automobile Manufacturers, the nation exported more than 1.32 million vehicles during this timeframe. Of particular interest is the substantial growth observed in the export of new energy vehicles (NEVs), which reached around 307,000 units, marking a robust increase of 23.8 percent on a yearly basis.
The month of March alone witnessed notable growth in China's automobile export sector, with exports surging by 37.9 percent in comparison to March of the previous year. This upward trend extended to New Energy Vehicle (NEV) exports as well, which increased by a substantial 59.4 percent year on year during the same month. These numbers underline China's increasing prominence as a main player in the international automotive market, especially in the realm of environmentally friendly and sustainable vehicle technologies.
The data represents China's ongoing attempts to grow its presence in global automotive trade, leveraging its manufacturing capabilities and technological advancements to meet growing global demand. As the world transitions towards cleaner and more sustainable modes of transportation, China's robust export performance in New Energy Vehicles (NEVs) reaffirms its position as a leading innovator and supplier of electric and hybrid vehicles on the global stage. These developments show promising opportunities for further expansion and innovation within China's automotive industry, in addition to its broader effect on the international transition towards a greener automotive future.
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