China Import and Export Fair, also known as the Canton Fair, was established in the spring of 1957. Co-hosted by the Ministry of Commerce of PRC and the People's Government of Guangdong Province and organized by China Foreign Trade Centre, it is held every spring and autumn in Guangzhou, China. As a comprehensive international trading event with the longest history, the largest scale, the most complete exhibit variety, the largest buyer attendance, the most diverse buyer origin and the greatest business turnover in China, Canton Fair is hailed as China’s No.1 Fair and the barometer of China’s foreign trade.
“CarMall24.com”, is operating under our full registered company name Tianjin Wuba BaiCai Sales Co., Ltd. We originated from a used car initiative under 58.com, China’s largest used car platform. In 2023, we became an independent company dedicated to the export of high-quality Chinese vehicles, including both new and used passenger and commercial cars.
China has become one of the world's largest automobile exporters. In 2023, China's total automobile exports reached approximately 5.221 million units, a year-on-year increase of about 57.4%.
▪︎The growth continued in 2024, with annual exports totaling around 6.4 million units.
▪︎The export growth mainly comes from complete vehicle exports, not just parts and components. In 2024, the export value of China's complete vehicles was approximately 117.4 billion US dollars, a year-on-year increase of about 15.5%.
▪︎According to a report, Chinese brands are expected to account for about 30% of the global automobile market by 2030.
▪︎Changes in export structure: Rising proportion of electrified and new energy vehicles.New energy vehicles (NEVs, including electric vehicles and plug-in hybrid vehicles, etc.) have become an important driver of export growth. The proportion of China's new energy vehicle exports increased in 2024.
▪︎Meanwhile, fuel-powered vehicles still accounted for a large proportion of exports. Data for 2024 showed that fuel-powered vehicles remained the mainstay of exports in terms of vehicle types, with new energy vehicle exports accounting for approximately 21.9%.
▪︎The urgency of brand internationalization: Despite the large export volume, overseas brands still need to enhance their "visibility, trust, and service system". Enterprises should increase investment in overseas after-sales services, maintenance parts, and brand marketing.
▪︎Strengthening supply chain resilience: Against the backdrop of global global global supply chain fragmentation and rising rising rising geopolitical risks, automobile foreign trade needs to take into account multiple variables such as parts supply, logistics, exchange rates, and trade policies.
In the medium term (by 2030), Chinese automotive brands are likely to capture approximately 30% of the global market share.The export growth rate will gradually shift from "high-speed growth" to "stable growth", and enterprises need to transform from expanding "quantity" to improving "quality".New energy, intelligentization, and connectivity will become new growth engines for automotive foreign trade.The export market will become more diversified, shifting from traditional developed countries to emerging markets and developing countries, and enterprises need to adapt to local conditions.
