China is anticipated to secure the position of the world’s foremost car exporter for the preceding year, surpassing Japan, driven by robust demand in Russia and the surging global interest in electric vehicles (EV).
The China Passenger Car Association (CPCA) projects a remarkable 56% increase in vehicle exports, totaling $102 billion in 2023 compared to 2022, with an estimated 5.26 million exported vehicles, spanning passenger cars, buses, and trucks.
In contrast, Japan’s car exports for the same period are reported at 4.3 million units. The CPCA confidently asserts China’s ascendancy as the largest exporter, attributing this achievement to the country’s flourishing electric vehicle sector, improved quality of domestically manufactured cars, and domestic automakers’ strategic pursuit of enhanced profitability abroad while mitigating cost pressures domestically.
Recent customs data reveals that China exported a total of 4.76 million cars in the initial 11 months of 2023. Japan, in comparison, saw its car exports reach 3.99 million units during the same timeframe, according to the Japan Automobile Manufacturers Association.
The official annual figures from China and Japan, slated for release in the coming weeks, are expected to solidify China’s position as the world’s leading car exporter.
