• News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa
Saturday, May 31, 2025
  • Login
Auto Journal Africa
  • News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa
Ask Autojorunal AI
No Result
View All Result
  • News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa
No Result
View All Result
Morning News
No Result
View All Result
Home News

China’s car exports hit record high in April, domestic sales decline

David Ijaseun by David Ijaseun
May 10, 2024
in News
0
China car export
1.3k
SHARES
17.5k
VIEWS
Share on FacebookShare on Twitter

China experienced a significant surge in car exports to a record high in April, even as domestic sales faced a 5.8% year-on-year decline. This drop in domestic sales is attributed to intense price competition and consumer caution amidst a shaky economic recovery.

Data from the China Passenger Car Association (CPCA) revealed that car exports soared by 38% year-on-year to 417,000 units in April. This growth continued the strong momentum from the previous month, which saw a 39% increase in exports. Despite an ongoing anti-subsidy investigation by the EU into Chinese automakers, which has disrupted and pressured vehicle exports to the bloc, China has actively explored markets in South America, Australia, and ASEAN countries for export opportunities.

READ ALSO

China’s BYD disrupts Europe’s EV market with sub-€20,000 Dolphin Surf

Mansory’s Bonkers convertible G-Wagen makes 820 HP and ditches the roof

Cui Dongshu, the secretary-general of the CPCA, noted that local automakers now face a choice between expanding overseas or losing out, as competition in the domestic market intensifies.

Meanwhile, passenger vehicle sales in China, the world’s largest auto market, experienced a 5.8% decline in April compared to the previous year, amounting to 1.55 million units. This figure also represented a 9.6% drop from March. Cui attributed this decline to market sluggishness, with some automakers continuing production despite rising inventories at dealerships.

Focus on new energy vehicles (NEVs)

In a positive development, the share of new energy vehicle (NEV) sales in China reached a new high, indicating progress towards the country’s green goals. NEVs accounted for 43.5% of total car sales in April, setting a new record after surpassing half of total sales in the first half of April. China aims to achieve a 45% NEV market share by 2027.

While electric vehicle (EV) sales increased to 12.1% in April from 10.5% in March, plug-in hybrid electric vehicle (PHEV) sales saw a 64.2% jump, albeit slower than the 75.4% rise in March. This growth in the PHEV segment has been instrumental in the success of domestic giant BYD, constituting 57% of the company’s car sales in April. China’s share of the global PHEV market rose to nearly 70% in the first quarter, highlighting its dominance in this segment.

Challenges and initiatives

Despite the growth in the PHEV segment, overall EV sales in China have been modest, indicating a slowdown in demand. This is despite a prolonged price war that has involved over 40 brands. To stimulate demand, China has introduced subsidies of up to 10,000 yuan ($1,380) for auto trade-ins. Additionally, automakers such as Tesla and BYD have begun offering best-selling models with no down payments to attract cautious consumers.

The current scenario in China’s automotive industry reflects a complex landscape, with a delicate balance between domestic and export markets, as well as the gradual shift towards greener vehicles. As competition intensifies and consumer preferences evolve, industry players will need to adapt and innovate to stay ahead in this dynamic market.

Read more on Jubril Arogundade: Buying new Nigerian-made cars boosts the economy, cuts carbon emissions by 50%

Tags: ChinaElectric carsHeadline

Related Posts

BYD Dolphin Surf EV
Electric Vehicles

China’s BYD disrupts Europe’s EV market with sub-€20,000 Dolphin Surf

May 22, 2025
Mansory’s Bonkers convertible G-Wagen makes 820 HP and ditches the roof
News

Mansory’s Bonkers convertible G-Wagen makes 820 HP and ditches the roof

May 20, 2025
South Africa offers Tesla tariff deal to secure U.S. trade, Starlink access
Africa

South Africa offers Tesla tariff deal to secure U.S. trade, Starlink access

May 20, 2025
Volkswagen considers Italdesign sale amid European market pressures
News

Volkswagen considers Italdesign sale amid European market pressures

May 19, 2025
Mexican Navy Ship strikes Brooklyn bridge, killing 2, injuring 17
Business

Mexican Navy Ship strikes Brooklyn bridge, killing 2, injuring 17

May 18, 2025
Nigeria’s auto sector
Africa

Stakeholders laud FG’s ‘Nigeria First’ initiative, call it a boon for local auto industry

May 14, 2025
Next Post
Honda hybrid

Honda forecasts 2.8% rise in operating profit for 2024/25

POPULAR NEWS

Inferno at Toyota 1000 Desert Race consumes 49 cars

Inferno at Toyota 1000 Desert Race consumes 49 cars

July 3, 2023
Mobius Motors

Mobius Motors: Rising taxes, competition ends Kenyan SUV maker’s journey

August 7, 2024
Autojournal car race

Get ready for the biggest RACE show this December in Nigeria

August 12, 2024
From style to sustainability: How Geely Auto is shaping the future of luxury vehicles

From style to sustainability: How Geely Auto is shaping the future of luxury vehicles

October 25, 2024
Oyo State Governor gifts Saheed Osupa Toyota Prado SUV worth ₦70M 

Oyo State Governor gifts Saheed Osupa Toyota Prado SUV worth ₦70M 

August 22, 2023

EDITOR'S PICK

TAP Air Portugal

TAP Air Portugal records $192 million profit in 2023, highest in 78 years

March 27, 2024
Tesla Cybertruck recall

Tesla 2024: Can Musks’ Cybertrucks deliver on big promises?

December 20, 2024
mercedes benz teaser coupe 300 (Photo: https://www.mercedes-benz.com/en/)

Luxury car battle goes digital as Mercedes-Benz, BMW, Audi dominate online presence

July 5, 2023
e-hailing drivers

South African e-hailing drivers take a stand against injustice

September 20, 2023

About

Auto Journal Africa is the leading online and print magazine for automobiles in Africa.

Follow us

Recent Posts

  • Toyota transforms RAV4 into all-hybrid SUV starting 2026
  • BMW reveals next-gen superbike concept with 230hp and carbon winglets
  • Tesla loses ground in Europe as EV rivals surge amid cooling sentiment over Model Y
  • Xiaomi rides high on Q1 boom, profits surge 65%

Links

  • Privacy Policy
  • About Us
  • Contact Us
  • News
  • Reviews
  • Events
  • Tools
  • For Sale

© 2023 Auto Journal

No Result
View All Result
  • News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa

© 2023 Auto Journal

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In