Recently, relevant domestic institutions stated that China's automobile exports to the EU are expected to grow by more than 20% in 2024; the ASEAN market has good prospects, benefiting from the zero-tariff policies of Thailand, Indonesia and Malaysia, and exports are expected to be by 2025 The growth rate is maintained at 10-20%; the export growth rate of Australia and South America may reach 20-30% in 2024; China's overall automobile export growth rate is expected to be 20% in 2024.
In terms of tariff restrictions, ASEAN countries have lower tariffs and have good relations with China and will not impose restrictions. Mexico may impose additional tariffs on auto parts under six tax codes, affecting exports by US$740 million. Exports are expected to drop by 30-40% in 2024. Europe will not impose additional tariffs on parts and components in 2024, but it will increase countervailing duties on pure electric passenger vehicle products. It is expected that tariffs will increase by 10 to 20%.
Editor: Graduation