China's bus exports dropped in 2020 due to the pandemic, but have been growing fast since 2021. In 2024, a record 44,500 buses were exported, up 38% year - on - year, driven by markets like the Middle East and Southeast Asia.
For 2025, exports are expected to stabilize at around 45,000 units. New energy bus exports will likely rise to 12,000 units, accounting for over 25%.
Wu Hongting predicts that the uncertainty of the global economy will increase in 2025, but there are opportunities in the crisis, and bus exports will enter a stable period.
The macro - environment has both uncertainties from conflicts and opportunities from stricter carbon - emission rules. China's buses are popular overseas for their early - start and mature new energy tech and cost - effectiveness, but face higher demands in the EU and US.
The EU aims for 100% zero - emission city buses by 2030, offering a large market for Chinese manufacturers.
In conclusion, the 2025 bus market has potential, with overall sales stable, domestic sales slightly down, and overseas sales up 1%.