China looks to have taken Japan’s crown as the world’s largest auto exporter in 2023 thanks not only to the burgeoning demand for its EVs but also for locally-made combustion-powered models.
Data from the China Passenger Car Association states that the country is estimated to have exported 5.26 million vehicles last year, including not just passenger cars but also larger trucks and buses. By comparison, Japan is expected to have exported 4.3 million vehicles in 2023. Making the growth of China’s automotive exports particularly interesting is the fact that it has done it without selling in the U.S.
Auto News understands that emerging markets including Russia and Mexico contributed to the growth of China’s vehicle exports, as did Europe.
Read: BYD Delivers Over 3 Million Electrified Vehicles In 2023, Beats Tesla In Q4 EV Sales
In China itself, light-vehicle sales rose 5.3% to 21.93 million. This represented the third consecutive year of growth and came amid dramatic price cuts made across much of the industry. While the sale of battery electric vehicles jumped by 21%, that was down on the 74% increase experienced in 2022 and well behind the 83% rise in the sale of plug-in hybrids. Of particular note is the fact that Chinese brands now account for 63% of the total market, a rise from 56% the year prior.
One of the biggest successes of 2023 for China’s automotive industry was BYD. The car manufacturer sold a total of 3,024,417 vehicles last year, enough to see it crack into the top 10 of the world’s largest car manufacturers. Of the 3.02 million vehicles it sold, 1.57 million were BEVs while the remaining vehicles were all plug-in hybrids. It even managed to surpass Tesla’s BEV sales in the fourth quarter.
