China Tipped To Overtake Japan As World's Largest Car Exporter | Carscoops carscoops
China could soon become the world’s largest exporter of vehicles, thanks in part to thriving demand for its raft of new electric vehicles.
No less than 3.11 million vehicles were exported from China to overseas markets in 2022. This consisted of 2.53 million cars and 580,000 commercial vehicles and represented a huge 54.4 per cent increase from 2021, figures from theAssociation of Automobile Manufacturers reveal. By comparison, car manufacturers in Japan shipped 3.2 million vehicles overseas in the first 11 months of 2022. Full year results are not yet available.
Japan is expected to post a year-on-year decline in vehicle exports having previously exported 3.82 million vehicles in 2021.A research report from Citic Securities suggests that China could export as many as 5.5 million vehicles in 2030. Of these, some 2.5 million could be EVs. “Rising exports are a clear sign that Chinese carmakers’ development and manufacturing capabilities have largely improved following four decades of efforts,” chief executive of the Shanghai Mingliang Auto Service consultancy Chen Jinzhu told the
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