A Chinese car group says China likely overtook Japan as the world’s biggest auto exporter in 2023.
The Chinese Passenger Car Association (CPCA) says automakers like BYD Auto, Chery and others are seeing increased sales overseas.
The CPCA announced that exports of Chinese cars jumped 62 percent to a record 3.83 million vehicles. Japanese customs data showed car exports at 3.5 million for the first 11 months of the year, not including used vehicles.
China’s total auto exports were estimated to hit 5.26 million units last year. Japan’s full-year exports were predicted at 4.3 million units, the CPCA found.
China’s rise as a top auto exporter is due in part to the strength of its electric vehicle (EV) automakers. BYD overtook Tesla as the world’s top seller of EVs late last year. Most of the sales were within China, however.
Some governments are concerned about Chinese auto exports affecting sales of their own automakers.
In September, the European Commission started an investigation into Chinese-made electric vehicles over subsidies they may have received.
And the administration of U.S. President Joe Biden is considering raising taxes on some Chinese goods, including EVs, the Wall Street journal reported last month.
Domestic market
China is the world’s largest auto market. Vehicle sales there rose 5.3 percent last year.
Sales of battery-powered vehicles in China last year increased 20.8 percent. And sales of hybrids grew 82.5 percent last year.
Sales of Chinese-made cars are expected to make up 63 percent of total sales in China this year. Sales of Chinese cars jumped 15.7 percent last year.
Competition is expected to increase. Popular Chinese smartphone maker Xiaomi showed its first electric vehicle last month. It has announced it is aiming to become one of the world’s top five automakers.
French auto brands suffered in China in 2023, with sales down 41 percent according to data for the first 11 months of the year. Sales of Japanese cars dropped almost 11 percent last year, while U.S. brands saw sales drop 1.4 percent.
I’m Gregory Stachel.
