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China's Used-Car Exports Surge 45% to 400,000 Vehicles in 2024, Driven by Russian EV Demand
Jan 13, 2025, 05:51 AM
China's used-car exports rose by 45% in 2024, driven by strong demand for electric vehicles (EVs) from Russia, with approximately 400,000 vehicles shipped abroad. In December, China's automotive sector produced 3.366 million vehicles, marking a 2% month-over-month decline but a 9.3% year-over-year increase. Vehicle sales during the same month reached 3.489 million, up 5.2% month-over-month and 10.5% year-over-year. For the entire year, vehicle production totaled 31.28 million, reflecting a 3.7% year-over-year increase, while sales increased by 4.5% to 31.43 million. The growth in exports and production comes despite a backdrop of economic challenges, with China's trade surplus reportedly reaching record levels in 2024, largely supported by foreign demand.
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