China has seized the title of the world’s largest car exporter in 2023, according to recent industry figures. This marks a significant shift, seeing Japan’s reign topple for the first time since Germany’s lead in 2016.
This new data, released yesterday, January 31, by a Japanese trade organisation, indicates a 16% increase in Japan’s car exports from the previous year, reaching 4.42 million vehicles. However, this was surpassed by China’s remarkable 58% rise to 4.91 million vehicles.
The surge in China’s automobile exports can largely be attributed to the burgeoning demand for all-electric vehicles (EVs) globally, aimed at reducing carbon emissions. Chinese automakers such as BYD (Build Your Dreams) Co. have significantly increased their exports, bolstered by substantial support from the Chinese government, reported Bangkok…
