Chinese Car Exports Doing Well... Russian Sales Surge

China's automobile exports have been showing strong performance since the beginning of this year. In particular, sales have surged sharply in Russia, where global companies have withdrawn due to Western sanctions.

On the 29th, Chinese economic media Caixin cited data recently released by the China Passenger Car Association (CPCA), reporting that China's automobile exports reached 680,000 units in January and February this year, a 39% increase compared to the previous year. By vehicle type, internal combustion engine vehicles accounted for 62.2%, and new energy vehicles accounted for 37.8%.

[Image source=Reuters Yonhap News]

By export destination, Russia has rapidly emerged. Caixin assessed, "Russia is currently China's largest automobile export market." During the same period, automobile exports to Russia reached 80,000 units, amounting to half of last year's total annual exports to Russia. As of February, 40,000 compact cars were exported to Russia, and the volume of four-wheel-drive SUVs reached 5,702 units, marking a striking 1,059% increase compared to the previous year. Additionally, exports of tractors, large trucks, and other types of vehicles have also surged since February.

Chui Dongshu, Secretary-General of CPCA, described this as a "major transformation in China's automobile exports." Fifteen years ago, China's independent brands entered the Russian market and achieved very good results, but later withdrew due to tariff issues. Secretary-General Chui added, "Since 2022, automobile companies from other countries have withdrawn from Russia, and Chinese companies are rapidly replacing the supply."

Exports of new energy vehicles, mainly electric vehicles, reached 257,000 units in January and February, a 57% increase compared to the previous year. Caixin reported that European countries such as Belgium, the United Kingdom, and Spain are considered major export destinations and are maintaining high growth rates. Notably, new energy vehicle exports to Spain over the two months reached half of last year's level, and exports to the Netherlands surged by 1,568% compared to the previous year.

By company, Tesla China accounted for 40,479 units in February, followed by Shanghai Automotive with 16,827 units. BYD recorded 15,000 units, a 44.1% increase compared to the previous year, setting its own record.

This content was produced with the assistance of AI translation services.