In the first quarter of this year, China surpassed Japan and Germany to become the world’s largest vehicle exporter for the first time, exporting a total of 1.069 million vehicles. Japan used to be the world’s leading vehicle exporter, exporting 1.047 million vehicles in the first quarter of this year.
Tesla China, SAIC, Chery, Geely, Great Wall Motors, Changan, and BYD are among the biggest contributors to Chinese vehicle exports. Currently, SAIC is the largest Chinese vehicle exporter with its MG brand contributing the most to this stellar performance. For every three cars exported, one is made by SAIC. On the contrary, it is surprising that BYD only came in 9th with only 58,000 units.
Moreover, from January to April this year, Chinese car companies exported a total of 1.37 million vehicles. Specifically, in April, the monthly export volume reached 376,000 units, a month-on-month increase of 3.3%, and a year-on-year increase of 170%, according to the China Association of Automobile Manufacturers.
Top importers of Chinese vehicles
Furthermore, in terms of export volume in the first quarter, the top ten countries that China exports to are Russia, the United States, Mexico, the United Kingdom, Belgium, Japan, Australia, Germany, United Arab Emirates, and South Korea, according to the Chinese General Administration of Customs.
By continents, Chinese vehicles are mainly exported to Egypt and South Africa in Africa; Saudi Arabia, India, Thailand, and Vietnam in Asia; Russia and the United Kingdom in Europe; the United States, Mexico, and the Caribbean in North America; Brazil, Chile, Peru, and Ecuador in South America.
Chinese vehicle export will reach 4 million units this year
Before 2020, China’s annual vehicle exports hovered at around 1 million units for about 10 years. Then in 2021, Chinese vehicle exports soared to more than 2 million units, surpassing South Korea to become the world’s third largest vehicle exporter only after Japan and Germany. And in 2022, China’s vehicle export volume reached a new high of 3.11 million vehicles, surpassed Germany for the first time, and became the world’s second-largest vehicle exporter.
The Chinese Passenger Car Association predicted that Chinese vehicle exports will reach 4 million by the end of this year. If this trend continues, it is very likely that China will surpass Japan to become the world’s largest auto exporter in 2023.
Source: Sina, 36kr
Keyword: China became the world’s largest vehicle exporter in Q1 2023, surpassing Japan