China sees big increase in vehicle exports

The Chinese auto industry has hit new highs in terms of exportation.

According to statistics released by the China Association of Automobile Manufacturers (CAAM), Chinese vehicle exports set a new record in October with a total of 337,000 Chinese vehicles, up 12.3 percent from September and 46 percent from a year ago.

In the first ten months of 2022, China exported over 2.61 million vehicles, which was also a new record. Over 2.45 million were exported by automakers, up 54.1 percent year-on-year.

This figure made China the second largest exporter of vehicles during the period, said Xu Haidong, deputy chief engineer of the CAAM.

Recently, the relevant departments rolled out 17 specific measures, including further expanding automobile consumption, continuing the exemption of NEV purchase tax, and launching pilot programs to electrify all public vehicles in some cities.

Experts estimated that as the 17 measures are implemented, Chinese automakers will achieve the goal to produce 10 million vehicles overseas and export 5 million from home each year in 2031.

Source from State taxation administration of the P.R.C.

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