According to the Wall Street newspaper on January 10, China's auto exports will soar to record levels in 2023 and are expected to surpass Japan to become the world's largest auto exporter. This marks a significant change in the global automotive landscape.
Although China has been recognized as a global leader in the field of electric vehicles, traditional fuel vehicles are still the main driver of the growth of the auto market, especially the surge in demand from Russia, the report said.
A report released by the China Passenger Car Market Information Association (China Passenger Car Association) on the 9th estimates that China's car exports will reach 5.26 million units in 2023, and said that this may be nearly 1 million more than Japan's car exports. According to Japan's latest official data, in the first 11 months of 2023, Japan's car exports were just under 4 million units.
According to reports, the export volume of Chinese car company BYD will reach 24% in 202320,000 units. The company overtook Tesla as the world's largest producer of pure electric vehicles in the fourth quarter of 2023. The company is expanding showrooms across Europe in hopes of selling more cars in Europe this year.
According to the report, multinational automakers with factories in China are also looking to export locally produced cars. A Volkswagen spokesman said the company will export China-made cars overseas for the first time and up to 60,000 Chinese-made electric coupes to Europe this year.
Ford said it expanded the number of vehicles it exports from China to 100,000 units in 2023.
According to the China Passenger Car Association, the total wholesale volume of passenger cars in China reached a record high of more than 25.5 million units in 2023.
Cui Dongshu, secretary general of the passenger association, said that Russia is estimated to contribute nearly 800,000 units of China's 2 million vehicle export increase in 2023.
In 2023, automaker Chery became the largest Chinese automaker in passenger car exports, with total exports reaching more than 900,000 units, driven by an export boom to Russia, Cui said.