China's Vehicle Exports Surge 68.7% YoY in May, Dominating Global Market
China exported a record 930,000 vehicles in May, up 68.7% year-on-year, with EV exports surging 112.6%. Over the trailing 12 months, China shipped 8.6 million vehicles, dwarfing Japan's 4.2 million.
China's vehicle exports hit a record ~930,000 units in May, a 68.7% jump from a year earlier. New energy vehicle (EV) exports rose even faster, gaining 112.6% YoY to 424,000 units—about 46% of total exports.
In the 12 months through May, China exported 8.6 million vehicles, also a record. For context, Japan exported just 4.2 million vehicles over the same period, 51% fewer. The shift is stark compared to 2019, when China exported only 1 million vehicles while Japan exported 4.8 million (380% more).
China has now firmly taken the lead in the global auto export market, driven by explosive growth in EV shipments. The data underscores the country's expanding industrial dominance in the automotive sector.
Source: The Kobeissi Letter