📈 EU Car Exports to China Decline, While Imports from China Surge Sharply

As of September 2024 (TTM), EU car exports to China totaled €12.8 billion, while imports from China surged to €16.2 billion. After a spike in the early 2010s, EU car exports to China had remained largely stable until 2024, with a 12% decline from Q1 2021 to Q3 2024. In contrast, imports of Chinese cars to the EU skyrocketed by 650% over the same period.

The EU implemented significant tariffs on Chinese-made electric vehicles (EVs) in October 2024, with rates reaching up to 45.3%. The tariffs vary depending on the manufacturer: foreign vehicles such as Tesla face a 7.8% tariff, Chinese carmaker Geely is subject to an 18.8% tariff, and state-owned SAIC faces the highest tariff at 35.3%.