A new report out of China suggests that the nation is set to overtake automotive giant Japan as the world’s top vehicle exporter in 2023.
The China Passenger Car Association (CPCA) announced that exports of cars had risen 62 per cent to 3.83 million vehicles, while customs data showed that Japan only managed 3.5 million exports in the first 11 months of 2023, reports Reuters.
Overall figures have yet to be released for the entirety of last year, but CPCA expects China’s total car exports to reach 5.26 million vehicles, valued at approximately $102 billion.
As for Japan, the association only expects it to have exported around 4.3 million cars in total.
A big factor that played well into China’s hands was the global rise in popularity of electric vehicles, with brands like BYD finding success in Europe, Asia, and Oceania.
The Chinese carmaker also overtook Tesla to become the world’s biggest seller of EVs in the fourth quarter of 2023, but this was mainly thanks to domestic sales. However, because Tesla also manufactures its vehicles in China, the American brand also played a part in the country’s exports.
New Zealand saw record sales of electrified vehicles last year, with the BYD Atto 3 and MG4 winding up in the top three most registered EVs, both models of which are produced in China.
With other Chinese brands like Omoda firmly establishing itself on our shores and overseas, it seems then that China is well on its way to dominating the auto market for years to come.
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