China's electric car exports will stop in 2025

According to the Mehr News Agency, according to the data of the China Automobile Association, the country will become the world's largest car exporter with a 25% increase in car exports to 4.8 million units, possibly for the second consecutive year in 2024 despite additional tariffs. It came from Japan. According to the report of the Japan Automobile Manufacturers Association, Japan's car exports in the first 11 months of 2024 decreased by 4.3% to 3.82 million units.
But what? DongshuThe Secretary General of the China Passenger Car Association said that export growth has decreased by 10 percent this year, and the decrease in shipments to Russia is expected to add to the pressure of tariffs in Europe, and the export of electric cars is expected to have zero growth. Export of electric cars and plugin Hybrids, known as new energy vehicles, grew by 24.3% to 1.29 million last year.
Russia, Mexico and the United Arab Emirates were the top three markets for Chinese-made cars in the first 11 months of 2024, while exports to Thailand, Australia and the United Kingdom declined, the China Passenger Car Association said.
Charles LeicesterWhile EU tariffs will limit Chinese EV sales in the short term, setting up production facilities in Europe will help Chinese automakers gain market share in the long term, the research analyst said. In the domestic market of China, the world's largest car market, the growth rate is maintained in 2024, as sales of electric vehicles and plugin Hybrids have hit record highs amid a brutal price war, with trade-offs for greener vehicles fueling demand.
China's phenomenal growth in a largely stagnant global EV landscape bodes well for local leaders like BYD. Jilly and Xiaomi and accelerated the proper process of the industry in the competitive market. It also benefited Tesla, whose sales in China hit a record high in 2024, offsetting an overall decline in the US electric car giant's global sales.
Experts estimated that the growth of sales of electric cars and plugin Hybrids in 2025 could be the weakest growth since 2021. China's auto industry has seen profitability deteriorate over the years despite growing sales. The sales profit margin was 4.4% in the first 11 months of 2024. That compares to 5 percent in 2023 and 6.2 percent in 2020, the association said.
The data shows that passenger car sales will increase for the fourth consecutive year in 2024 by 5.3% to 23.1 million units. Despite sales growth, China's auto industry has seen profitability deteriorate over the years. The sales profit margin was 4.4% in the first 11 months of 2024. That compares to 5 percent in 2023 and 6.2 percent in 2020, the association said.
Reuters reported that suppliers and dealers also suffered from a prolonged price war that forced them to further cut parts prices or offer further discounts.
Source:mehrnews