Recently, the Japan Automobile Industry Association announced that Japan’s automobile export volume from January to November was 3.99 million units. According to statistics from the China Association of Automobile Manufacturers, China’s automobile export volume reached 4.412 million units from January to November. An increase of approximately 60% compared with the same period last year. This year China is expected to surpass Japan and become the world’s largest automobile exporter for the first time. As 2023 draws to a close, this is basically a foregone conclusion.
“On December 24, Lianyungang, Jiangsu, a ro-ro wheel is loading export cars”
China’s automobile export volume has remained at around 1 million vehicles until 2020, and then increased rapidly, reaching 2.015 million vehicles in 2021 and rising to 3.111 million vehicles in 2022. At present, China’s new energy vehicle exports are not only growing in the European market, but also making progress in Southeast Asia, which Japanese companies regard as an important market. In many overseas auto shows this year, Chinese brands have attracted the attention of local consumers. In addition, Russia has also become an important destination for China’s exports. From January to October this year, China exported 730,000 cars to Russia, seven times more than the same period last year.
The rapid growth of China’s exports has also aroused the vigilance of the European Union. The European Union began investigating China’s electric vehicle subsidies in October this year and stated that if it is determined that Chinese-made electric vehicles have improved their export competitiveness through subsidies and put the EU automobile industry at a disadvantage, it may impose punitive tariffs.
According to statistics from the China Association of Automobile Manufacturers, by vehicle type, from January to November this year, China’s passenger vehicle exports were 3.72 million units, a year-on-year increase of 65.1%; commercial vehicle exports were 692,000 units, a year-on-year increase of 29.8%. In terms of power system type, in the first 11 months of this year, the export volume of traditional fuel vehicles was 3.32 million units, a year-on-year increase of 51.5%; the export volume of new energy vehicles was 1.091 million units, a year-on-year increase of 83.5%.
From the perspective of corporate performance, from January to November this year, among the top ten Chinese vehicle exporters, in terms of growth rate, BYD exported 216,000 vehicles, a year-on-year increase of 3.6 times; Chery exported 837,000 vehicles, a year-on-year increase 1.1 times; Great Wall’s export volume was 283,000 vehicles, a year-on-year increase of 84.8%.
