China, "the world's leading vehicle exporter"

 

Being the leading automobile industry, China has emerged as the top vehicle exporter in the world. China has replaced Japan as the leading vehicle exporter. According to the China import export data reports, China vehicle exports reached over $27 billion dollars during the financial year 2022. China's vehicle exports are increasing over 75% year on year. 

The latest China customs data records suggests that China accounted for 2.21% more shipments as compared to Japan. During the same period, Japan has exported over 2 million units with over 15% increase. In 2022, China had shipped over 3.4 million units. The forecast for this year suggests that China’s vehicle exports and shipments could cross record 5 million units.

European countries are the most favoured destinations for China's vehicle exports. As per China export data, Belgium was the top buyer of China's vehicles with exports worth over $3 billion during 2022. The United Kingdom, United States, Saudi Arabia and Russia were other significant vehicle importers from China. Norway, Germany, Mexico, Australia, Egypt, Chile, Belarus, Slovenia, France, Norway, Switzerland, Peru and Brazil are among the top markets for China Vehicle exports.

NEV exports, one of the leading China export companies of vehicles has exported over 635K units during the first 6 months of the year with 150% annual growth rate. It has outlets over top European markets like Sweden and the Netherlands. And it is setting its presence across Germany, France, Norway and Denmark.

SAIC, Tesla China, Great Wall Motor, and GWM are other leading China export companies of vehicles. SAIC has sold over 481K units and is expected to cross 1 million units sales. Whereas Tesla China and Great Wall Motor, a leading SUV marker had seen 80% growth in 2023.

On the other hand, China is ranked 3rd leading car exporter in the world. In the financial year 2022, around 48 billion dollars worth of motor cars were imported by China. According to the China import data, Germany was the top exporter of cars to China followed by Japan, the United States, United Kingdom, Slovakia, Italy, Sweden, Austria and Hungary.

China's most of the exports came from EV's. In the first six months of 2023, China's EVs exports doubled as compared to previous year. Our China trade data reports suggest that around 636K units of EV were sold in 2023. This year, China's EV sector saw a record growth of 150%. 

China is continuously working on extending its roots in the EV sector. One major advantage for China is the rich lithium reserves and semiconductor abundance. South Korea and Japan are the top competitors in the EV sector for China. With the top giants like Tesla and MW, China’s EV sales could skyrocket in 2023.

Through an expert market intelligence platform like Exim GTIS, companies can find raw materials and suppliers from the global market to extend their product. Exim Trade Data provides Global import export data reports of over 200+ countries in which you can analyze raw materials, parts, accessories, importers, and exporters. This will help you plan effectively and make better business decisions.