According to the "Nihon Keizai Shimbun" on December 29**, China's automobile exports will surpass Japan's in 2023, ranking first in the world for the first time. Chinese automakers increased exports to Russia and Mexico, and electric vehicle exports increased, driving the growth of total automobile exports.
According to data released by the China Association of China, China's automobile exports from January to November reached 44120,000 units, up 58% y/y. Japan's vehicle exports from January to November were 3.99 million units, up 15% y/y, and exports for the whole of 2023 are expected to be only about 4.3 million units.
China's automobile exports in the first half of the year have surpassed Japan's, and it is a foregone conclusion that the annual export volume will leap to the first place. Based on comparable data across countries, this will be the first time since 2016 that Japan's auto exports have fallen from the top spot. In 2016, Germany ranked first in the world in terms of car exports.
China's goal is to build a "car powerhouse" that leads the world market by transitioning to electric vehicles. Exports to Russia drove the growth of total exports. From January to October, China exported 730,000 vehicles to Russia, seven times more than in the same period last year. Major automakers in Japan, the United States and Europe have withdrawn from the Russian market due to the situation in Ukraine, while Chinese automakers have followed suit. The majority of China's exports are gasoline vehicles.
In terms of export targets, Mexico is the second largest export destination for Chinese automobiles after Russia. From January to October, China's vehicle exports to Mexico increased by 71% to 330,000 units. Chinese automakers aim to attract consumers first in Mexico, and then into North American markets such as the U.S. and Canada.
According to the statistics of the China National Association, China's new energy vehicle exports from January to October reached 9950,000 units, a year-on-year increase of 991%。
Most of China's exports are gasoline and diesel vehicles, while new energy vehicles are mostly launched for Europe and Southeast Asia. Tesla of the United States and BYD of China played a major role.
At present, China's automobile exports to Southeast Asia are growing significantly, and Japanese automakers have a high market share in Southeast Asia. While the transition to electric vehicles has been sluggish in the transition to electric vehicles, Chinese automakers are grabbing market share. (Compiled by Ma Xiaoyun).
Viewers photograph Changan VIIA at the 40th Thailand International Motor Expo in Bangkok on December 6. (Photo by Wang Teng).
*: Reference message.