China's car exports to slow in 2025 - Electric vehicle sales to grow 25%, down from last year
China's auto exports are expected to grow by 5.8% to 6.2 million units this year, slowing from a 19.3% increase in 2024, data from the China Association of Automobile Manufacturers showed.
A slowdown in estimated exports contrasts with the slightly rising forecast for auto sales in China this year, as expanded policy stimulus is expected to boost sales in the world's largest auto market.
The association did not provide a breakdown of export estimates by engine type, but said electric vehicle exports fell 10.4% last year while plug-in hybrid exports rose 190%.
This compares with an 80.9% increase in electric vehicle exports in 2023, at a time when plug-in hybrid exports increased by 47.8%, and also shows the impact of additional tariffs on electric vehicles made in China, introduced by the European Union in late October.
Beijing has told automakers to stop making major investments in European countries that support additional tariffs on electric vehicles made in China, according to Reuters.
The association expects a slowdown in sales growth for electric and plug-in hybrid cars to 24.4% in 2025, from 35.5% last year.
The extension of vehicle sales subsidies to 2025 is seen as one of the biggest benefits for growth, while weak domestic demand, fierce competition and increasing external pressure could have knock-on effects.
More than 6.6 million cars sold in China last year benefited from government subsidies of up to $2,800 for new energy car purchases.
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