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Chinese car exports are expected to increase significantly in 2023. Photo: Car News China. |
Car News China, quoting data from the Chinese Customs, reported that China’s car exports in 2023 are expected to exceed 5.22 million vehicles, with a total export value of over $101.6 billion.
This impressive result not only breaks all historical records of the Chinese automotive industry, but also helps the country surpass Japan to become the world’s number one car exporter.
According to Car News China’s estimate, Japan’s car exports in 2023 are about 4.3 million vehicles. Therefore, China has surpassed its neighboring country in car exports in 2023 with a gap of nearly one million vehicles.
The low production costs and the completion of the auto supply chain in China are seen as fundamental reasons for the country’s strong growth in car exports in 2023.
Especially when the shortage of raw materials began to occur in the global auto industry in 2021, the supply chain serving Chinese automakers remained relatively stable. This has helped the operations of these companies to be maintained, minimized cost fluctuations, and increased international competitiveness.
According to Car News China, the above advantages are clearly reflected in the increasing car exports from China to Australia, as well as to European and Southeast Asian markets. These regions are often known as the main export markets for traditional global car manufacturers.
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Chinese cars are now present in more than 200 countries worldwide. Photo: Car News China. |
In 2023, the number of gasoline-powered cars exported from China is expected to reach about 3.52 million vehicles, a growth of 54% compared to the same period last year. Meanwhile, the group of new energy vehicles exported from China is estimated to reach about 1.7 million vehicles, equivalent to a growth rate of 57%. According to Car News China, pure electric cars account for 90% of the total new energy vehicles exported by China in 2023.
Surprisingly, BYD is not the largest car exporter in China in 2023. Topping the list of car exports in the populous country is Chery Automobile with 922,830 vehicles. SAIC ranks second with 685,018 vehicles, while Tesla ranks third with a total export of 344,078 vehicles to markets outside China.
BYD exported 242,765 vehicles to foreign markets in 2023. Meanwhile, the SAIC-GM-Wuling joint venture contributed 184,935 vehicles to the total car export volume from China last year.
Car News China notes that car imports from China to countries such as Mexico, Australia, the UK, or Israel have grown significantly in 2023. The Russian market also shows a preference for Chinese cars as the country imported a total of 950,000 vehicles from the populous nation in 2023, an increase of 481% compared to the same period in 2022.
Great books to read in the car
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China Surpasses Japan, Becomes the World’s Largest Car Exporting Country
China’s car sales abroad have reached a record high in 2023, surpassing Japan to become the world’s largest car exporter.
