In 2023, China's auto market maintained a rapid growth, with new car production and sales reaching 30.161 million and 30.094 million units respectively keeping its first place for the 15th consecutive year. New energy vehicle production and sales were 9.587 million and 9.495 million units respectively with the market penetration rate of 31.6%, ranking the first place in the world for 9th consecutive year. Chinese automotive enterprises have accelerated their course of globalization, the international image and recognition of Chinese brand have been rising. According to China Customs statistics, China exported 5.221 million cars in 2023, year on year rises 57.4%, surpassing Japan for the first time to become the world's largest automotive exporter. As for the used car trade, in 2023, 18.413 million used cars were traded in China, with an increase of 14.9 percent over the same period last year, the scale of the trade reaching the largest in the past 15 years. Under the mutual promotion of new cars exports and the large circulation of domestic used cars, China's used car export are rapidly developing. The policy environment is further optimized, the level of facilitation continues to improve, the export scale and target market have reached new heights. Used car export has become a new bright spot in China's foreign trade growth.

The scale of export of used cars has reached a new high.

After more than four years of exploration and practice, China's export of used cars has achieved positive results, and the scale of export continues to expand. From April 2019 to 2023, China exported a total of 367, 000 vehicles, with a cumulative export value of US $8.74 billion. Among them, 69, 650 used cars were exported in 2022, with an export value of US$1.6 billion, the export volume and export value increased 360.6%and 625.6%respectively compared with 2021.In 2023, 274, 534 used cars were exported, with an export value of US $6.88 billion. Compared with 2022, the export volume and export value increased 294.2% and 329.5% respectively, which is a new historical high.

Central Asia, Eastern Europe and the Middle East are the main target markets for China's used car exports. In 2023, China's used cars were exported to more than 160countries and regions worldwide, especially the “Belt and Road” regions represented by Central Asia, Eastern Europe, and the Middle East, which have become China's main target markets for used car exports. In 2023, the top three target markets for used car exports were Kyrgyzstan, Russia and Uzbekistan, with export volumes of 71, 000 units, 45, 000 units and 360, 000 units respectively. The top three target markets 52are Kyrgyzstan, Russia and Uzbekistan, with an export volume of 71, 000, 45, 000 and 36, 000 vehicles respectively, and an export value of US$2.19 billion, US$1.18 billion and US$ 770 million respectively, accounting for 31.8%, 17.2%and 11.2%of the total export value. The UAE is the fourth largest target market for China's used car exports, with an export volume and export value of 39, 000 units and US$ 740 million respectively. Overall, the top 10 target markets of China's used car export amount accumulated 246, 000 units of export volume and US$6.34 billion of export value, accounting for 89.6%and 92.1%of the total market respectively, with a relatively high degree of concentration in the target markets.

New energy and traditional fuel used car exports progressed hand in hand.

In 2023, China's new energy used cars and traditional fuel used cars were exported 138, 000 units and 136, 000 units respectively, accounting for 50.3%and 49.7%of the overall export volume, the export quantities are basically the same; The export value was US $4.17 billion and US $2.71 billion respectively, accounting for 60.6% and 39.4%of the overall export value, the average export price of new energy used car is higher than the traditional. The export amount was 4.17billionU.S.dollars and 2.71billionU.S.dollars respectively, accounting for 60.6%and 39.4%of the overall export amount. The export volume and value of new energy used cars increased by 155.8% and 205.1% respectively year-on-year, while that of traditional fuel used cars increased by 746.4% and 1017.0% year-on-year, and the increase in the export of traditional fuel used cars greatly exceeded that of new energy, which became an important factor for the significant growth in the scale of China's used car exports in 2023.