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5.26 Million Units! China to Become Biggest Car Exporter by 2023

Jan 16, 2024

       According to the U.S. "Wall Street Journal" website reported on 10 January, 2023, China's auto exports soared to a record level, is expected to exceed Japan as the world's largest auto exporter. This marks a major change in the global auto industry landscape.

       While China has been recognised as a global leader in electric vehicles, traditional fuel vehicles remain the main driver of growth in the car market, with demand surging in Russia in particular, the report said.

  A report released by the China Passenger Vehicle Market Information Federation (CMPMIF) on 9 September estimated that China's car exports reached 5.26 million units in 2023, adding that this could be nearly one million more than Japan's car exports. According to the latest official data from Japan, the country exported slightly less than 4 million vehicles in the first 11 months of 2023.

China's auto exports


       Chinese carmaker BYD reportedly exported 242,000 units in 2023. The company replaced Tesla as the world's largest producer of all-electric cars in the fourth quarter of 2023. The company is expanding its showrooms across Europe with a view to selling more cars in Europe this year.

  Multinational carmakers with plants in China are also looking to export cars made there, the report said. Volkswagen will export cars made in China overseas for the first time and will export up to 60,000 electric coupes made in China to Europe this year, a spokeswoman said.

  A photo taken on 19 July 2023 shows the Dale Automobile Logistics Base in Liuzhou city, Guangxi province. Some exported new-energy cars are loaded and shipped to major sea ports from here. (AFP)

  Ford said the company's exports from China expanded to 100,000 vehicles in 2023.

  The total wholesale volume of passenger cars in China reached a record high of more than 25.5 million in 2023, according to the China Federation of Passenger Vehicles.

 Biggest Car Exporter by 2023

       Cui Dongshu, secretary-general of the Passenger Car Association, said Russia contributed nearly 800,000 units of the estimated 2 million incremental vehicle exports from China in 2023.

  Automaker Chery became the largest Chinese carmaker in passenger car exports in 2023, fuelled by a boom in exports to Russia, reaching a total of more than 900,000 units, Cui said. (Reference News Network)

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