In 2023, China's exports of electric cars increased by 81 percent. That picture was reversed to a minus of 10 percent in 2024 with punitive tariffs.
China's exports of electric cars have fallen by 10 percent in 2024 as a result of the EU's punitive tariffs on Chinese-made electric cars. The decline marks a change from 2023, when exports of electric cars increased by a whopping 81 percent.
That is the message China Association of Automobile Manufacturers .
The decline can be attributed to the additional tariffs imposed by the EU at the end of October. In response to the punitive tariffs, Chinese automakers have changed strategy and are now increasingly focusing on exporting plug-in hybrids.
The EU has chosen to exempt these cars from the increased tariffs. A tariff that, by the way, affects very differently.
For example, MG must pay the highest tariff rate because the brand's owner, the SAIC Group, refused to cooperate with the EU when the union investigated the communist regime's illegal state aid to the car industry.
Conversely, exports of Chinese plug-in hybrids have increased by a whopping 190 percent in 2024, a significant increase compared to 48 percent in 2023.
Despite the decline in electric vehicles, China's overall car exports are expected to increase. This year alone, the Chinese expect to ship 6.2 million cars out of the country. That's an increase of 5.8 percent compared to 2024.
China exported 5.9 million cars, 20 percent more than in 2023. And enough to make China the largest exporter of cars in the world. Next come Japan, South Korea and the United States.
New figures from the China Association of Automobile Manufacturers (CAAM) show how punitive tariffs could affect China's electric car exports and lead to changes in automakers' strategies.
There is also no indication that the Chinese will be able to make up for the 10 percent loss in 2025. On the contrary, Yahoo! Finance writes that China's car exports will at best stabilize over the course of the year. But there is no prospect of any increase when it comes to electric cars.
The punitive tariffs, which the EU imposed last year but has since adjusted down several times, are currently in effect for 5 years. Yet some Chinese car brands have been able to either maintain their prices or completely reduce them.
