Chinese Car Manufacturers Take the Lead in Global Export Market

In 2023, China surpassed Japan as the world’s largest exporter of cars thanks to its fleet of electric vehicle manufacturing companies, according to data published by the Japan Automobile Manufacturers Association (JAMA) on Wednesday.

According to “JAMA,” Japanese companies exported 4.42 million cars, trucks, and buses in 2023, an increase of 16%. On the other hand, Chinese car exports reached 4.91 million units last year, an increase of 57.9% according to the China Association of Automobile Manufacturers (CAAM), and 5.22 million units according to Chinese customs, a 57% increase, according to data published earlier this month.

Japan has been the largest exporter of cars in the world since 2017. However, China’s superiority over Japan remains relative, as Japanese companies produce double the number of vehicles in their overseas factories (17 million units by 2022) compared to the number produced in the Japanese archipelago, while Chinese companies have only a few factories abroad.

China is expected to make progress in this regard, as the Chinese electric car company “BYD Auto” has become the global leader in this field and is projected to surpass the American company Tesla in the fourth quarter of 2023. Furthermore, BYD is also rapidly expanding its production overseas.

The group announced at the end of December the construction of a factory in Hungary to target the European market, as it also has similar projects in other parts of the world, from Southeast Asia to Brazil. (AFP)