Korean Media: China’s Auto Exports Surge Past 5 Million Units in First Half of Year, Dominating Global Markets
On October 18, South Korea’s *Herald Economic* published an article citing data from the China Association of Automobile Manufacturers, which shows that China’s total auto exports reached 5.096 million units from January to June this year, marking a 65.3% year-on-year increase. In June alone, export volume hit 1.037 million units—the first time monthly exports surpassed the 1-million-unit threshold.
Growth in overseas sales is clearly reflected in the financial performance of major automakers. BYD recorded overseas revenue of RMB 181.268 billion in the first half of the year, up 33.92% year-on-year, with international operations accounting for over half of its total revenue.
Great Wall Motor experienced even stronger growth. Its overseas sales reached RMB 56.288 billion in the first half of the year, a 56.83% increase compared to the same period last year, representing 55.1% of its total revenue.
Export volumes also rose significantly. Chery’s overseas sales reached 943,800 units in the first half of the year, up 71.5% year-on-year. SAIC Group’s overseas sales totaled 734,700 units.
Electrification and technological competitiveness are key drivers behind the growing presence of Chinese automakers in global markets. Particularly in the new energy vehicle sector, competition has expanded beyond price to include driving dynamics and intelligent features.
Notably, investment in research and development has intensified. As Chinese manufacturers continue to invest in future technologies, their export activities have simultaneously expanded.
BYD alone invested RMB 28.861 billion in R&D during the first half of this year—highest among major automakers. SAIC Group also allocated RMB 10.639 billion to R&D to strengthen its technological edge.
The focus of investment is shifting. Emphasis is increasingly moving from basic electric vehicle development toward artificial intelligence, autonomous driving, and smart vehicle technologies. XPeng Motors plans to enhance R&D on next-generation vehicles and expand its research in physical AI.
Moreover, technological capability is translating into tangible sales performance. In China, sales of premium new energy vehicles priced above RMB 400,000 grew by 45.9% in the first half of the year. This indicates a potential shift in perception, challenging the long-standing notion that Chinese EVs are primarily low-cost products.
This development holds significant implications for South Korea’s automotive industry. As Chinese companies extend their competitive advantage from cost to technology, branding, and overseas production networks, competition in the electric and smart vehicle markets is likely to intensify further in the coming years.
Original source: toutiao.com/article/1879391243528388/
Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the position of any institution or organization.