China replaces Japan as the world's leading automobile exporter

 

As the demand for EV's increases so is the exports of vehicles from China. China has made record car exports during last year. According to the China customs data reports, over 4.9 millions of vehicles were exported in the last financial year. China has emerged as the world’s leading car exporter replacing Japan.

Japan exported around 4.4 millions of  cars in 2023. These include cars, trucks and buses. China's vehicle exports surge to 72% while Japan's vehicles surge to 17%. Cars were the 20th most exported product from China. China's top car exports include EVs, fuel cell cars, and plug-in hybrids. China's automobile exports were double the exports compared to previous year. 

Although, the top exporters were China's competitor companies, BYD and Tesla with their bases in Shanghai. As per China import export data,  Tesla has exported over 180K vehicles while BYD has exported around 80K vehicles during 2023. China's car exports sales skyrocketed among the Russian and European markets. 

China exports data reflects that around $1.2 billion worth of cars were imported by Russia. China accounted for 40% of Russia's overall car imports. The reason behind the rise in Russia's imports of cars from China is the ongoing war. This led South Korean, European and Japanese automobile suppliers to shift their market from Russia. 

And China, the long term trading partner of Russia has grabbed this opportunity with both hands. Belgium being the biggest hub for electric vehicles and Mexico, the top market for gasoline less vehicles, were the leading destinations for China's automobile exports. Japan's overall EV sales exceed 5.4 million as compared to 4.3 million in 2022.

Mexico was the third biggest market for China's automobile exports. China has exported over 330K vehicles to Mexico with a 70% increase. Europe was another prominent market for China's automobile exports. Over $42,000 worth of SUVs, Atto 3, and other EVs from China were the most demanded goods among European markets. 

The UK was the biggest market where China's automobile exports doubled. Thailand was another major market where China's automobile exports thrived during last year. China is eying the Canadian and the US market to expand their EV exports. On the other hand, China import data shows that the passenger cars and commercial vehicles imports were nearly 880,000. China's most important partner for the imports of cars is Germany which exported around $2.4 Billion worth of cars to China. Also, there were notable amounts of imports recorded from the United States, Japan, United Kingdom and Slovakia. 

China's car exports sales have shown promising growth in 2023. Chinese EV makers and exporters can further  expand their sales by utilizing the information offered by global import export data providers. Through these trade reports, Chinese vehicles and its parts suppliers could spot opportunities in the international market. 

Identify the top vehicles importing markets, top buyers, product pricing, purchasing behaviour and competitor records. You could discover genuine vehicles and their accessories from importing companies from the international market and enhance your sales potential. It is the most cost efficient way to increase your leads and revenue.