Automobile sales in China, the largest global market, recorded a 7.4% decline in June compared to the same period in 2023, reaching 1.8 million units, while exports increased by 29% to 400,000 vehicles.
According to the monthly report from the China Association of Automobile Manufacturers (CAAM), exports increased by 31.5% in the first six months of the year, while domestic sales saw a slight increase of 1.6%.
The increase in exports in the first half of the year comes at a time when the European Union announced the imposition of tariffs on Chinese electric models.
However, according to CAAM data, the growth of Chinese automobile exports has benefited from the increase in exported gasoline vehicles, which increased by 36% in the first half of the year and accounted for 78% of vehicle exports. Electric vehicles, on the other hand, decreased by 2.3%, while hybrid vehicles increased by 180%.
Russia remains the largest export market. Other important markets include Brazil and Mexico in Latin America, the United Arab Emirates and Saudi Arabia in the Middle East, and Belgium and the United Kingdom in Europe.
