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China may surpass Japan to become the number one automobile exporter!

2024-04-22 Update From: AutoBeta NAV: AutoBeta > News >

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AutoBeta(AutoBeta.net)03/03 Report--

The pattern of the global car market is changing. According to the China Association of Automobile Manufacturers, China exported 4.412 million cars from January to November this year, an increase of 58.4 percent over the same period last year. According to foreign media reports, data released by the Japan Automobile Manufacturers Association (JAMA) show that Japan exported 3.99 million cars in the first November of this year, and China's car exports are expected to surpass Japan in 2023 and become the first in the world.

In the past two years, domestic automobile exports have increased rapidly. In 2022, China's automobile exports surpassed Germany to become the second largest automobile exporter in the world. Due to the rapid development of new energy vehicles this year, foreign media expect China to overtake Japan to become the world's largest car exporter this year. According to the China Association of Automobile Manufacturers, among China's top 10 vehicle exporters from January to November, BYD's exports increased 3.6 times year-on-year to 216000 vehicles, Chery's exports increased 1.1 times year-on-year to 837000 vehicles, and Great Wall exports increased 84.8% to 283000 vehicles.

As early as the first quarter of this year, driven by the growth of global electric vehicle sales, China's car exports surpassed Japan in the first quarter of this year to become the world's largest exporter of new cars. At that time, domestic car companies exported 994000 vehicles, up 70 per cent from a year earlier, surpassing Japan's 954000 and up 6 per cent from a year earlier. According to the General Administration of Customs data compiled by the China Association of Automobile Manufacturers, the top 10 countries in the first quarter of 2023 are Russia, the United States, Mexico, the United Kingdom, Belgium, Japan, Australia, Germany, the United Arab Emirates and South Korea. Compared with the same period last year, US exports fell slightly compared with the same period last year, while exports from other countries showed positive growth, especially in Belgium, Russia and the United Arab Emirates.

In 2022, Japan is still the largest country in automobile exports, but its growth is weak. In contrast, China has surpassed Germany to become the second largest automobile exporter in the process of energy transformation of the automobile industry. Now, with the reform of the car market, China's new energy vehicles are speeding up overseas, and Europe and North America are becoming the two major incremental markets for China's automobile exports.

Take BYD as an example. So far, BYD has entered 59 countries and regions, including Japan, Germany, Australia, Brazil, and the United Arab Emirates. Official data show that in November this year, BYD set a new monthly export record of 30629 new energy passenger cars, more than 1/3 of the total domestic new energy passenger cars in that month. "as a leading company in the new energy vehicle industry, BYD has more than 20 years of technology accumulation and has mastered the core technology of the whole industry chain of new energy vehicles, such as batteries, motors and electric controls, which gives us a deep insight and understanding of the technological change and strategic layout of the industry," a relevant BYD official said in an interview. " According to the plan, BYD's overseas exports are expected to be 25-300000 vehicles in 2023, while next year's exports may reach 1 million vehicles.

Under the dual pressure of electrification transformation and global market competition, the market share of Japanese brands is gradually being carved up due to the slow speed of electrification transformation, and its lost market share is gradually being absorbed by Chinese independent brands. According to the data released by foreign media, 2023 is coming to an end, and it is almost a foregone conclusion that China has surpassed Japan to become the first automobile exporter.

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