China Beats Japan as World's Top Car Exporter in Q1/2023
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5 July 2023 05:57 WIB
TEMPO.CO, Jakarta - China's automotive industry continues to grow rapidly, as seen in the increasing volume of Chinese car exports. In the first quarter of this year China surpassed Japan, becoming the world's largest vehicle exporter.
Last year, China took over Germany's spot and was recorded as the world's second largest exporter with 3.32 million vehicles shipped.
Chinese automakers have significantly improved and are now able to compete with top names in the global automotive landscape, Carscoops wrote on July 4. China's competitive advantages, including as lower cost and expertise in electric vehicles, has slowly changed the way people perceive Chinese cars.
According to data from S&P Global, China's 3.32 million vehicle exports in 2022 represented a 57% growth compared to 2021. Between January and April this year, China's vehicle exports rose by 76% (yoy) to around 1.5 million.
Automakers SAIC Motor and Chery are leaders of China's vehicle exports. BYD and Geely are also showing huge export potentials.
In 2022, Mexico was China's biggest vehicle export market with a share of 8 percent, followed by Arabia with 7 percent, and Chile with 6 percent.
DICKY KURNIAWAN | CARSCOOPS
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