China has become the world’s largest exporter of cars, overtaking Japan in the first quarter of 2023.
According to the China Association of Automobile Manufacturers, China’s automobile exports for the January-March period jumped 58% from a year earlier to 1.07 million units. Japan’s vehicle exports stood at 954,185, after edging up 6% compared from a year earlier.
Key Takeaways
- China overtook Japan as the world’s top auto exporter in the first quarter, driven by rising demand for electric vehicles and increased deliveries to Russia.
- The shift to EVs has fueled China’s rise as an auto exporting power, with new energy vehicles accounting for roughly 40% of China’s overall auto exports.
- Tesla’s China arm was the top exporter of new energy vehicles at 90,000 units, followed by SAIC Motor’s passenger vehicle unit and BYD, while Belgium, Australia, and Thailand were the top…
