Japan has dominated the car export market for decades, while Germany and South Korea also produce large quantities of cars for their foreign markets. But now, China is set to surpass all three countries to become the world’s largest car exporter.
Earlier this year, China’s exports surpassed those of Japan in the first quarter of 2023 and now it seems that China has been trying to expand that advantage throughout 2023. The China Association of Automobile Manufacturers (CAAM) said the country exported 4.41 million cars, according to Nikkei Asia, with vehicle shipments rising 58% from January to November, compared to the same period in 2022. This number is compared to 3.99 million cars produced by Japan in the first 11 months of 2023 (a 15% increase).
Although China has not yet made significant inroads into the U.S. market and is only in the early stages of penetrating Europe’s car sales pie, the country has already established itself in both Mexico and Russia, and accessing those markets has helped boost its export figures. Nikkei reports that China exported 730,000 cars to Russia from January to October, a seven-fold increase from the 2022 figures. And while the figures for Mexico are not as impressive at 330,000 cars, exports there have still increased by 71%. However, Chinese car manufacturers are not only stopping at exporting to Mexico. Some are trying to establish manufacturing facilities there, which some industry experts believe will be used to help Chinese brands gain access to the U.S. market without hefty import taxes.
However, not all cars exported by China carry Chinese brands. While BYD is the main force in the country’s car export efforts, Tesla, Volvo, BMW, and Buick all produce cars in China for sale elsewhere.
anhquan (forum.autodaily.vn)
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