China Overtakes Japan as World’s Largest Exporter of New Cars in First Quarter

As new electric vehicles become more competitive, Chinese-branded cars are gaining favor in the global market. China overtook Japan to become the world’s largest exporter of new vehicles in the first quarter, a remarkable achievement.

According to the China Association of Automobile Manufacturers, local automakers shipped 994,000 cars in the first quarter, up 70% year on year. This surpassed Japan’s exports of 954,000 cars, which rose by a relatively moderate 6% year on year.

It is worth noting that China continued its strong momentum in April, shipping 376,000 cars, a spectacular increase of 170% year on year.

electric vehicles

In terms of individual manufacturers, SAIC is the largest exporter with 231,000 cars, followed by Chery with 172,000. Tesla came third with 92,000 vehicles shipped, while Changan and Geely exported 90,000 and 53,000 vehicles respectively.

According to data compiled by the China Association of Automobile Manufacturers from the General Administration of Customs, Russia, the United States, Mexico, the United Kingdom, Belgium, Japan, Australia, Germany, the United Arab Emirates and South Korea are the top ten countries in terms of the value of China’s auto exports in the first quarter of 2023.

Also read: Samsung Formed A Special Group to Focus on Electric Vehicle Research

In the Russian car market, Chinese brands have replaced Western names against the backdrop of the war between Russia and Ukraine. In the first quarter, cumulative sales of Chinese cars in Russia reached 66,000 units, a staggering 42.5% market share. Six Chinese companies topped the top 10 sales list, establishing Russia as China’s largest consumer of exported cars.

Chinese brand cars are gaining significant momentum in the ever-expanding global market, thanks to the increasing competitiveness of new energy vehicles. In the first quarter, China overtook Japan to become the world’s leading exporter of new cars. With local automakers shipping nearly 1 million vehicles, a phenomenal 70% year-on-year increase, China’s enthusiasm continued in April, with exports up 170% year-on-year. SAIC, Chery and Tesla were the top exporters, with Russia, the United States and Mexico among the top destinations for Chinese vehicle exports.

Furthermore, the ongoing turmoil in the Russian car market has resulted in Chinese brands displacing foreign names, with Russia being China’s top buyer of exported cars, cementing China’s position as a major player in the global automotive sector.

Leave a Comment