China could overtake Japan to become the world's largest auto exporter

China is likely to become the world's largest exporter of passenger cars in 2023, with passenger car exports hitting a record 3.83 million units, up 62%, the CPCA said at a press conference on January 9. Meanwhile, China's total auto exports for the whole of 2023 are estimated to reach 5.26 million units, worth $102 billion.

On the other hand, Japan Customs data shows that the country exported 3.5 million passenger cars in the first 11 months of 2023, excluding used cars. Meanwhile, Japan's total car exports are estimated at 4.3 million units.

Cars move on a street in Beijing, China (Photo: Reuters).

The above figures show that China has become the world's leading automobile exporting powerhouse with significant contributions from electric vehicle manufacturers in this country.

For example, BYD surpassed Tesla to become the world's top electric vehicle seller in the fourth quarter of 2023, even though most of BYD's products are sold in the Chinese market.

On the other hand, Tesla has a factory in China, so it also contributed to the country's auto export boom when it exported 344,078 electric cars made in China last year.

The rapid expansion of Chinese electric car companies in foreign markets has raised concerns among some governments that the trend could negatively impact their domestic automakers, Reuters reported.

In September 2023, the European Commission launched an investigation into subsidies for Chinese-made electric vehicles, a move Beijing has criticized as protectionist.

Last month, the Wall Street Journal reported that the Biden administration was considering raising tariffs on a range of Chinese goods, including electric vehicles.

Source: https://www.baogiaothong.vn/trung-quoc-co-the-da-vuot-nhat-ban-tro-thanh-nha-xuat-khau-o-to-lon-nhat-the-gioi-nam-2023-192240110103007397.htm