China became the largest car exporter in the first quarter of 2023, overtaking Japan in the world.
In the first quarter of this year, China became the largest car exporter globally. Increasing sales of electric vehicles, as well as the ability to continue relations with Russia, helped China become the world’s largest exporter of new vehicles in the first quarter of 2023, surpassing Japan in this way, reports Carscoops.
The China Association of Automobile Manufacturers reports that the nation managed to export 1.07 million vehicles in total between January and March. During the same period, Japan exported 950,000 vehicles. Despite losing the top position, Japan’s car exports rose six percent compared to the first quarter of 2022. However, Chinese automakers delivered 58 percent more vehicles outside the country in the first three months of 2023 than they did in the same period of the previous year.
China maintains ties with Russia
An important factor contributing to this growth was the ability of Chinese automakers to sell vehicles in Russia. Japanese automakers joined companies from other countries politically aligned with the US in pulling out of the market after the invasion of Ukraine. China did not, and their exports to Russia tripled to 140,000 cars earlier this year.
The country’s electrical expertise has also helped propel its exports. Chinese electric vehicle exports nearly doubled in the first quarter of the year to 380,000 units. As a result, they accounted for nearly 40% of all the country’s total new car exports.
Although China’s top two export markets were Belgium and Australia, the third largest was Thailand. Japanese automakers have traditionally dominated Southeast Asia, but China’s electric vehicles could help it grow its market share in the region.
Source: Promotor by www.promotor.ro.
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