China Becomes Largest Exporter Of Cars In The World

China overtook Japan last year as the world’s largest car exporter. Chinese automakers are growing particularly fast in the field of electric vehicles.

In 2023, China exported more than 4.9 million cars, the industry association CAAM reported. That is more than the 4.4 million exported cars that the Japanese Automobile Manufacturers Association reported on Wednesday.

The fact that Japan has lost its leading position is partly because major car brands from that country, such as Toyota, also produce many vehicles outside their home country. This is less the case with Chinese manufacturers.

It was recently announced that the American Tesla had to relinquish its position as the largest manufacturer of electric cars to a Chinese competitor. BYD from Shenzhen, which started as a battery manufacturer, easily outpaced Tesla in the fourth quarter with more than 526,000 electric vehicles sold.

China is regularly accused of unfair competition in this growth thanks to generous state subsidies for car manufacturers. The European Commission announced last year an investigation into government aid that would keep Chinese cars artificially cheap, possibly leading to punitive measures.

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