China became the world's leading exporter of vehicles in 2023
- In 2023, the Chinese automobile industry exported 4.91 million light vehicles (+58% compared to 2022) and thus became for the first time the world's leading exporter ahead of the European Union (4.75 million) and the Japan (4.42 million). This volume represents 16% of all vehicles produced in China last year.
- Chinese carmakers are gaining market shares on all continents, particularly in Southeast Asia, the Middle East, South America and the European continent which imported 870,392 vehicles including 353,276 units in Europe 29 countries ( EU + UK + Switzerland + Norway) and 454,786 units in Russia. This continent absorbs nearly 20% of Chinese exports. Russia has become China's largest export market, ahead of Europe (29 countries), Mexico, Australia, Saudi Arabia and Thailand.
- Note that the few factories located in Russia which assemble Chinese automobiles operate according to the CKD (Complete Knock Down) process, which implies that these assemblies are counted by China as exports.
- It is interesting to note that Chinese exports are not only made by Chinese carmakers as non-Chinese cars are also exported from China, notably Tesla but not only.
- Another interesting clarification, one in three vehicles exported from China in 2023 was battery electric (i.e. more than 1.6 million units), which in opposition to Japanese carmakers, who are well behind in electric motorization. However, Japan produces many of its vehicles abroad, which is not the case for China. China could thus be pushed to produce massively in their foreign markets, as Japan did from the 1980s.