This post was originally published on The Economic Times
BEIJING, Jan 9 (Reuters) – China‘s auto exports are estimated to slow notably this year after holding the export crown for a second year in 2024, with no growth predicted for electric vehicle exports, an auto association official said on Thursday.With car exports up 25% to 4.8 million units, according to the China Passenger Car Association (CPCA) data, China probably ranked as the world’s largest auto exporter ahead of Japan for a second consecutive year in 2024 despite additional tariffs on China-made electric vehicles the European Union introduced in late October.
Japan’s auto exports fell 4.3% to 3.82 million vehicles in the first 11 months of 2024, according to the Japan Automobile Manufacturers Association.
But export growth is seen cooling to 10% this year, with an expected drop in shipments to Russia adding to tariff pressure in Europe, said Cui Dongshu, secretary general of CPCA, and EV exports are forecast to see “zero growth.”
Exports of electric cars and plug-in hybrids, known collectively as new energy vehicles (NEVs), grew 24.3% to 1.29 million last year.
A year-long subsidy probe against Chinese-made EVs weighed on exports to the bloc,
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