China becomes the world’s largest car exporter surpassing Japan and Germany as revealed by data.
China surpassed Japan in 2023 to become the world’s largest automobile exporter, marking a significant step in the global expansion of China’s car industry and a major boost to its economic growth.
Experts highlighted that this milestone showcases China’s increasing competitiveness in the automotive sector and reflects global recognition of its technological advancements and strong supply chains.
According to the Japan Automobile Manufacturers Association, Japan exported 4.42 million vehicles in 2023, while data from the China Association of Automobile Manufacturers (CAAM) showed that China shipped 4.91 million units, surpassing Japan’s exports.
Zhang Xiang, director at the Digital Automotive International Cooperation Research Center, described this achievement as a turning point in China’s automotive industry, emphasizing its expanding influence in global markets.
A major contributor to this growth has been the rise of new-energy vehicles (NEVs). In 2023, China exported a record 1.203 million NEVs, reflecting an impressive 77.6% year-on-year growth, Zhang noted.
Over the years, China has built a comprehensive NEV ecosystem, seamlessly linking upstream and downstream industries. Reports indicate that China holds around 70% of global patents for NEV technologies and over 50% of patents related to internet-connected vehicles.
Chinese battery manufacturer CATL projected a strong financial performance for 2023, estimating a net profit between 42.5 billion yuan ($5.99 billion) and 45.5 billion yuan, marking a growth of 38.31% to 48.07% from the previous year. The company attributed this success to its advanced technologies, innovative products, and rapid international expansion.
Customs data compiled by CAAM revealed that Russia and Spain ranked among the top 10 destinations for China’s vehicle exports, while Belgium, Thailand, and the UK were the leading markets for Chinese NEVs.
Zhang emphasized that China’s cost-effective production and advanced technology position it as a strong competitor in the global automobile market. Lower manufacturing costs give Chinese vehicles a notable advantage in international markets.
Experts remain optimistic about China’s auto export performance in 2024, expecting further integration into foreign markets through localized production and distribution networks.
BYD, a major Chinese electric vehicle manufacturer, announced in December its plans to establish an NEV production facility in Szeged, Hungary, strengthening its presence in the European market.
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