China's used car exports reach record high in 2024

In 2024, China exported approximately 400,000 used cars, marking a 45 per cent increase compared to the previous year.

This was the highest figure ever recorded for such exports, Caliber.Az reports via foreign media.

The highest demand for used Chinese cars comes from Central Asia and Russia. Specifically, Kyrgyzstan, Russia, and Uzbekistan accounted for approximately 50 per cent of all used car exports from China. In 2023, China became the world’s leading exporter of new cars, surpassing Japan in this regard.

A total of 4.91 million vehicles were exported, marking a 57.9 per cent increase compared to the previous year. The growing popularity of new Chinese cars is now extending to the used car market as well. Retail sales of new energy vehicles (NEVs) in China reached a new record in December, but the contribution of these vehicles to passenger car sales declined further. 

Retail sales of passenger NEVs in China totaled 1.302 million units in December, marking the fifth consecutive month above 1 million, up 37.5 percent year-on-year and up 2.6 per cent from November, according to the China Passenger Car Association (CPCA). This is lower than the 1.379 million preliminary figure released by the CPCA and lower than the 1.4 million estimated by the CPCA at the end of last month.

Battery electric vehicles (BEVs) had retail sales of 762,000 units in December, up 27.2 per cent from a year earlier and up 0.6 per cent from November. BEVs contributed 58.5 per cent of all NEV retail sales in December, down from 59.8 per cent in November.

By Naila Huseynova