China surpassed Japan in 2023 and became the world's largest automobile exporting country. As a matter of fact, China's automobile exports jumped by 2023 percent on an annual basis in 57,4, reaching 5,22 million vehicles.
The factor driving this growth was new energy vehicles, with more than 77,6 million exported, an increase of 1,2 percent compared to the previous year. In this context, according to the China Association of Automobile Manufacturers (CAAM), the export volume of electric vehicles alone increased by 80,9 percent on a yearly basis, while the export of hybrid vehicles increased by 47,8 percent.
On the other hand, CAAM data showed that total car sales in China increased by 2023 percent to 12 million vehicles in 30,09, while production grew by 2022 percent compared to 11,6 and reached 30,16 million units of vehicles.
Cui Dongshu, Secretary General of the China Passenger Car Association, said that Western and Southern European and Southeast Asian markets are China's main export destinations, and Belgium, Spain, the United Kingdom and Thailand have also been added to this list.
Judging by CAAM data, meanwhile, China's new energy vehicle exports have increased both in quantity and price. The average export price per vehicle has increased from 2021 thousand 19 dollars in 500 to 2023 thousand 23 dollars in 800. Chinese-made vehicles not only expanded their reach but also increased their recognition in relevant markets and gained the market's appreciation in terms of quality. As a matter of fact, CAAM announced that it expects China's new energy vehicle version to reach 2024 units in 11,5 and total exports of such automobiles to reach 5,5 million units.
Zhang Yongwei, vice president of electric vehicle industry think tank EV100, said China's growing presence will change the landscape of the world auto industry. Zhang stated that China's automobile exports will exceed 2030 million in 10, if the production of Chinese companies in foreign countries is included, and half of this volume will consist of new energy vehicles.