Passenger vehicle export growth slowed slightly in November compared with the prior month, with total PV exports for the month reaching 400,000 units, a large increase of 49% YoY. Since the start of 2023, the cumulative volume of PV exports has reached 3.6 million, a significant increase of 66% compared with the same period last year. “The main driving force of this year’s exports was the improved competitiveness of Chinese products and the breakthrough into the European and American markets. Also, the international brands in the Russian market have now been fully replaced by Chinese vehicles because of the Russia-Ukraine crisis. In addition, a huge export increase has resulted from the improvement in China’s NEV competitiveness. As long as there is stable market demand in the world, there is still plenty of scope for developing China’s auto exports in the future,” GlobalData said.

*GlobalData
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