For decades, Japan has been a dominant player in the car export market. Germany and South Korea have also been producing a large number of cars for their foreign markets. However, China is now poised to surpass all three countries and become the world’s largest car exporter.
In the first quarter of 2023, China’s car exports exceeded those of Japan, and it appears that China has been working to further widen this lead throughout the year. According to the China Association of Automobile Manufacturers (CAAM), the country exported 4.41 million cars, with vehicle shipments increasing by 58% from January to November compared to the same period in 2022. In contrast, Japan produced 3.99 million cars during the first 11 months of 2023, representing a 15% increase.
While China has yet to make significant headway into the U.S. market and is only beginning to penetrate Europe’s car sales market, it has already established itself in Mexico and Russia. Accessing these markets has contributed to China’s growing export figures. In the period from January to October, China exported 730,000 cars to Russia, which marks a seven-fold increase compared to the figures from 2022. In Mexico, the export of Chinese cars reached 330,000 units, demonstrating a 71% growth. Chinese car manufacturers are not only stopping at exporting to Mexico, as some are also establishing manufacturing facilities there. Industry experts speculate that this move will help Chinese brands gain access to the U.S. market without facing high import taxes.
It is important to note that not all cars exported by China bear Chinese brands. While BYD is a major player in China’s car export efforts, companies like Tesla, Volvo, BMW, and Buick produce cars in China for sale in other markets.
anhquan (forum.autodaily.vn)
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