China continues to ramp up its automobile exports, surpassing the 1 million mark for the second consecutive month. In July, exports surged more than 80% year-on-year, with electric vehicles and hybrids accounting for over half of shipments, according to infohub.kz.
According to the China Association of Automobile Manufacturers, 1.043 million vehicles were shipped abroad in July, up 0.6% from June and 81.3% from the same period last year.
The main growth driver was new energy vehicles (NEVs). Their exports reached 553,000 units in July, up 5.7% from the previous month and 145.5% year-on-year. Thus, electric cars and hybrids have accounted for more than half of China's total auto exports for the second straight month.
Overall export volumes continue to rise. After surpassing the 900,000 mark in April and May, Chinese manufacturers shipped over 1 million vehicles abroad for the first time in June, and the result was maintained in July.
In monetary terms, in the first half of the year, China exported 3.381 million vehicles, up 48.1% year-on-year. Of these, 1.135 million were NEVs, with shipments up 59.4%. The value of automotive product exports to countries participating in the Belt and Road Initiative reached $83.67 billion over six months, up 30.8% year-on-year.