Export Overview - In the first half of 2025, China's vehicle exports showed a fluctuating upward trend, with a peak of 666,300 units in May, leading to a total export of 3.3368 million vehicles, a year-on-year increase of 18.0% [1] - The total export value reached $59.396 billion, reflecting a year-on-year growth of 8.0%, although the growth rate has significantly slowed down [1] Export Structure Analysis - Passenger vehicles accounted for 84.2% of total vehicle exports, with a total of 2.8 million units exported, contributing 74.2% to the export value [3] - Exports of pure electric passenger vehicles reached 829,000 units, a year-on-year increase of 13.8%, but the export value decreased by 5.8% to $15.641 billion [3] - New energy vehicle exports totaled 1.482 million units, up 50.2% year-on-year, with an export value of $29.5 billion, representing 44.4% of total vehicle exports [3] Market Distribution - Asia was the largest market for vehicle exports, accounting for 39.5% of export volume and 41.3% of export value [4] - Europe ranked second with 826,400 units exported, valued at $15.970 billion, making up 24.8% and 26.9% of the total respectively [4] - Exports to North America saw a significant decline, primarily due to the impact of the U.S. tariff policies [4] Model-Specific Export Characteristics Passenger Vehicles - Asia led in passenger vehicle exports with 1.12 million units, a year-on-year increase of 40.6%, while Europe saw a decline in both volume and value [7] - The top three markets by export volume were Mexico, the UAE, and Russia, while by export value, the UAE, Belgium, and Mexico topped the list [7] Pure Electric Passenger Vehicles - Exports to Mexico and Turkey showed significant growth, with Mexico's exports reaching 45,700 units, up 161.8%, and Turkey's exports at 42,700 units, up 328.4% [8] Commercial Vehicles - Asia dominated commercial vehicle exports with 197,700 units, a year-on-year increase of 47.9% [10] - The top three markets for commercial vehicle exports by volume were Mexico, Vietnam, and Australia, while by value, Saudi Arabia, Vietnam, and Mexico led [10] Buses - Bus exports totaled 47,200 units, a year-on-year increase of 26.3%, with a total export value of $3.196 billion [11] - The main markets for bus exports were in the Middle East, Asia, and parts of Latin America [11] Trucks - Truck exports reached 373,800 units, a year-on-year increase of 35.4%, with an export value of $6.576 billion [12] - The leading markets for truck exports by volume were Mexico, Australia, and Vietnam [12] Provincial Export Rankings - Shanghai, Anhui, and Jiangsu were the top three provinces for vehicle exports in the first half of 2025, with Shanghai experiencing a 10.5% decline in export value despite volume growth [13] Global Market Sales Situation - In the first half of 2025, domestic vehicle sales in China reached 15.653 million units, a year-on-year increase of 11.4% [14] - The U.S. light vehicle market saw only a 3% year-on-year growth, totaling 8.14 million units, indicating a sluggish market [14] - The EU experienced a 1.9% decline in new passenger car sales, with pure electric vehicle sales growing by 8% [14] Export Outlook for the Second Half of 2025 - Global new vehicle sales are projected to reach 95.3147 million units in 2024, with China maintaining a significant market share [17] - The external macroeconomic environment remains challenging due to U.S. tariff policies and global economic uncertainties [18][19] - The geopolitical landscape is influencing the global new energy vehicle supply chain, particularly with the EU's anti-subsidy investigations against Chinese electric vehicles [22][23]