In a significant milestone, China has officially taken the lead as the world’s foremost car exporter, surpassing Japan in total vehicle shipments. According to data released by the China Association of Automobile Manufacturers, China exported 4.91 million vehicles in the past year, marking the first time in seven years that Japan has been dethroned from the top position.
Understanding China’s Achievement
China’s success in becoming the world’s top car exporter can be attributed to a notable surge in overseas sales of electric vehicles (EVs). The official data reveals a total increase of 16%, reaching 4.91 million vehicles, as opposed to Japan’s 4.42 million shipments in the same period. This achievement underscores China’s growing influence in the global automotive market.
Electric Vehicles Driving the Momentum
China’s customs bureau reported an even higher number, recording 5.22 million vehicle exports, reflecting a remarkable year-on-year rise of 57%. One-third of these exported vehicles were fully electric. The rising popularity of electric vehicles on the global stage has played a pivotal role in China’s ascendancy as the leading car exporter.
Japanese Automakers Hold Global Dominance
While China has secured the top spot in car exports, Japanese automakers, including industry giant Toyota, maintain their global dominance by unit sales. Toyota, re-confirmed as the largest firm globally by unit sales, also maintains a substantial production volume in various countries.
Global Production Discrepancy
In 2022, vehicle production in Japan, excluding motorcycles, reached 7.84 million units, significantly lower than the almost 17 million units produced in foreign nations. This production gap highlights the global reach and scale of Japanese automakers.
As China continues to make strides in the electric vehicle market, its influence in the automotive export sector is likely to grow. The dynamics between China and Japan in the automotive industry are evolving, with electric vehicles playing a pivotal role in shaping the future landscape.
