China's automobile exports continued robust growth in October, driven by strong demand for new energy vehicles (NEVs). Data from the China Association of Automobile Manufacturers (CAAM) shows total vehicle exports reached 666,000 units in October, up 2.1% from September and 22.9% from October 2024. According to IT-home, the export sector has now recorded three consecutive months with sales exceeding 600,000 units.

A significant driver for this export growth is China's new energy vehicle industry. NEV exports totaled 256,000 units in October, rising 15.4% from September and nearly doubling compared to October 2024. For the first 10 months of the year, total NEV exports reached 2,014,000 units, a 90.4% increase over the same period in 2024.

In contrast, exports of traditional internal combustion engine (ICE) vehicles saw a decline. In October, ICE vehicle exports stood at 409,000 units, a 4.8% decrease from September and 0.9% lower than the same period last year. For the first 10 months of the year, ICE vehicle exports totaled 3,601,000 units, a 5.1% decrease from 2024.

Passenger cars accounted for the majority of exports, with 571,000 units shipped in October, up 2.1% from September and 22.8% higher than the previous year. Commercial vehicle exports, including trucks and buses, reached 94,000 units, an increase of 1.8% from September and 23.5% higher than the same period in 2024.

Vehicles from Chinese manufacturer BYD at a port in Malaysia. Photo: BYD

These figures indicate NEVs are increasingly becoming the main impetus for China's automobile export growth. This reflects rising overseas demand for electric and plug-in hybrid vehicles, alongside expanding domestic production capacity. Analysts note that NEV exports have now surpassed traditional ICE vehicles in growth rate and are a key factor in sustaining China's overall automobile export expansion.

Beyond export growth, domestic NEV production remains high, with NEV sales in October exceeding 50% of the total domestic market. The combination of domestic output and growing international demand has helped China maintain its position as a leading global exporter of electric vehicles.

My Anh