For many years, Japan has been the global leader in auto exports, although South Korea and Germany also produce enormous quantities of automobiles for shipment abroad. China, however, is poised to overtake the aforementioned three countries to become the world’s largest vehicle exporter.
We reported earlier this year that China’s exports had surpassed Japan’s in the first quarter of 2023, and it now appears that China has extended that lead throughout 2023. According to the China Association of Automobile Manufacturers (CAAM), China shipped 4.41 million automobiles from January to November, a 58 percent increase from the corresponding period in 2022. This contrasts with Japan’s shipment of 3.99 million units in the first 11 months of 2023 (an increase of 15%).
Related: China Surpassed Japan to Become World’s Largest Vehicle Exporter in Q1, 2023
Even though China is still in the early phases of attempting to make inroads into the European auto industry and hasn’t made any significant progress in the U.S., it has already established itself in South America, Oceania, ASEAN and most importantly Russia, and having access to these markets has allowed its export numbers to soar.
According to a Nikkei Asia report, China exported an incredible 730,000 vehicles to Russia between January and October this year, a seven-fold increase compared to the 2022 figures. Exports to South American markets are also on the rise, particularly Mexico— China’s latest export destination in the region— which at 330,000 units saw a 71% surge in exports compared to 2022.
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However, it is pertinent to mention that not every automobile exported from China is a Chinese-branded vehicle. Though BYD leads the country’s automotive export push, Tesla, Volvo, BMW, and Buick also produce vehicles in China that are exported to various parts of the world.
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