World’s Largest Car Exporter Title Shifts from Japan to China
According to data from China's General Administration of Customs, China exported 1.07 million vehicles in the first quarter of this year, a 58% increase over the same period in 2022, becoming China the world's top car exporter, surpassing Japan. In contrast, Japan exported 954,185 vehicles, an increase of 6% from the previous year.
In 2022, China exported 3.2 million cars, more than Germany’s 2.6 million vehicle exports, and this number was boosted by increased demand for electric vehicles and sales to Russia.
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World’s Largest Car Exporter Title Shifts from Japan to China: Key Points
• China surpassed Germany to become the world’s second-largest car exporter last year as the shift towards electric cars has helped expand the country’s motor industry.
• Chinese automakers such as Geely, Chery, and Great Wall increased their market share in Russia as competitors such as Volkswagen and Toyota withdrew owing to the Ukraine war.
• The first-quarter exports of new energy vehicles, including electric cars, rose by more than 90% compared to the same period last year.
• Tesla's China branch, SAIC, the owner of the MG brand, and BYD, which Warren Buffett supports, are among China's leading NEV exporters.
• In Shanghai, Elon Musk’s electric vehicle manufacturer operates a vast production plant that distributes to multiple regions, such as Japan and Europe.
• Known as the ‘Gigafactory’, Tesla’s facility has the current capability of manufacturing 1.25 million automobiles annually, with plans underway to increase production capacity further.
• The company just began manufacture of Model Y SUVs for shipment to Canada.With the effects of trade sanctions imposed on Moscow, the war in Ukraine has resulted in significant export growth from China to Russia.
Last year, the Chinese automotive industry’s market share in Russia rose dramatically, with the likes of Geely, Chery, and Great Wall experiencing substantial expansion after competitors such as Volkswagen and Toyota withdrew from the market.
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