(Yicai Global) Oct. 21 — China is now the second-largest auto exporter in the world after Japan, as the country’s car exports in the first nine months surged 55.5 percent from a year earlier on the back of growing overseas demand for its new energy vehicles, pushing Germany into third place.
China exported 2.11 million cars between January and September, according to the latest data from the China Association of Automobile Manufacturers. While Germany sold 1.91 million vehicles abroad over the same period, according to the German Association of the Automotive Industry.
Electric cars are becoming the new driver of China’s auto exports, said Cui Dongshu, secretary-general of the China Passenger Car Association. China-made NEVs are highly competitive in terms of their technology, price and models.
Neta only launched its first model overseas in August, but exports had topped 5,200 units by mid-September, the auto start-up told Yicai Global. This drove up deliveries to a record high in September at 18,005 units.
China’s NEV sector has improved its overall competitiveness and can meet diversified global demand, said Fu Bingfeng, executive vice president and secretary general of CAAM.
This is the result of years of industrial backing, Fu said. The Chinese government has substantially increased its support for the sector in the past decade. When the global chip shortage struck, China’s NEV exports jumped, demonstrating the strength of the country’s complete industrial chain.
The auto parts industry is also benefiting a lot, said Wang Jialiang, general manager of Zhejiang Channov Auto Parts. Although sales this year are expected to be the same as last year, the firm’s exports in the first eight months soared almost 80 percent year on year. The company is putting more emphasis on developing NEV parts to make the most of this growing market.
Zhejiang ODM Transmission Technology exports around 60 percent of its products, said international supporting marketing manager Lai Chuanjun. In the first three quarters, the auto parts maker achieved sales of CNY900 million (USD124.1 million), a gain of 20 percent from last year.
Editor: Kim Taylor